Cummins to Rehire 270 Workers – Analyst Blog
Source: http://www.zacks.com/stock/news/25727/Cummins+to+Rehire+270+Workers+-+Analyst+BlogPosted on Friday, October 9th, 2009 | In Investing Lessons, Stocks to Watch
Cummins (CMI) has revealed that it will recall about 270 production employees at its Columbus Midrange Engine Plant (CMEP) in Walesboro, Indiana. A temporary increase in orders for the Dodge Ram turbo diesel pickup truck engines made at the plant has led to the recall. The workers had been laid off or transferred to other Cummins facilities over the last year.
Dodge Ram pickup – manufactured by Chrysler – is powered by Cummins’ 6.7-liter turbo diesel engine. The orders have increased as Chrysler seeks to build inventory for its 2010 Dodge Ram pickup.
Consequently, Cummins plans to temporarily add a second production shift at CMEP on Oct. 19 that is expected to operate through the end of 2009. The recall will boost the plant’s workforce to 600 hourly workers. The company began production of the 2010 Dodge Ram engines in mid-September with approximately 340 production employees working on a single shift.
The Columbus, Indiana-based company served more than 190 countries through its network of 500 company-owned as well as independent distributor facilities and more than 5,200 dealer locations. Cummins sells its products to original equipment manufacturers, distributors and other customers worldwide.
Cummins’ customer base comprises leading manufacturers in the markets, including Chrysler, Daimler (DAI), Volvo, PACCAR (PCAR), Navistar International (NAV), CNH Global N.V., Komatsu, Scania AB , Ford Motor (F) and Volkswagen. We recommend the stock as Neutral with a target price of $49.00.
Read the full analyst report on “CMI”
Read the full analyst report on “DAI”
Read the full analyst report on “PCAR”
Read the full analyst report on “NAV”
Read the full analyst report on “F”
Zacks Investment Research
Last 5 posts by Zacks Market Commentaries
- VIP Falls Behind Expectations - Analyst Blog - November 25th, 2009
- J. Crew Beats Zacks Estimates - Analyst Blog - November 25th, 2009
- No Change in Deere's Outlook - Analyst Blog - November 25th, 2009
- Sprint Acquires Virgin Mobile USA - Analyst Blog - November 25th, 2009
- Provenge Action Date Assigned - Analyst Blog - November 25th, 2009
Analyst, Chrysler, CNH Global N.V., Columbus, Columbus Midrange Engine Plant, Columbus Midrange Engine Plant (CMEP), Cummins, Dodge Ram, Ford Motor, Indiana, Investing Lessons, Komatsu, Navistar International;, Paccar;, Ram, Scania AB, Stocks to Watch, USD, Volkswagen, Volvo, Walesboro, Zacks Market Commentaries
 About Zacks Market Commentaries (http://www.zacks.com/)
Zacks Market Commentaries |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.