Cummins wants its filtration business to stand alone, but the engine and power distribution company will keep at least 80.5%.
The $3.3 billion acquisition of Meritor Inc. took a bite out of Cummins’ Q3 earnings as did underperforming joint ventures in China.
As Cummins focuses on electrification and growing its traditional engine business, the company is preparing an IPO for its filtration business.
Cummins beat analysts’ Q2 estimates on the top and bottom lines as it looks into making its filtration business a stand-alone entity.
Cummins could provide feedstock to make several million N95 masks a month by leveraging the same nano-material it uses to stop the fouling of diesel truck engines to protect healthcare workers tending to coronavirus patients.
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