Cummins Completes Deal for Braking Systems Firm
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Columbus-based Cummins Inc. (NYSE: CMI) has completed its previously-announced acquisition of Jacobs Vehicle Systems, a Connecticut-based manufacturer of engine braking and cylinder deactivation systems. Cummins purchased JVS from Altra Industrial Motion Corp. in a deal valued at $325 million.
JVS has more than 60 years of experience in engine retarding and valve actuation systems for the commercial vehicle industry, which Cummins says are key components to meet current and future emissions regulations.
The cylinder deactivation technology turns off a number of cylinders when the vehicle is cruising. That in turn improves fuel efficiency.
Cummins says it will integrate the technology into medium and heavy duty engines.
“Adding Jacobs’ engine braking and cylinder deactivation technologies creates new growth and technical opportunities to advance our path to zero emissions strategy to achieve net-zero carbon emissions by 2050,” said Jennifer Rumsey, Cummins’ president and chief operating officer.
JVS has roughly 600 employees and has two primary manufacturing facilities in Bloomfield, Connecticut and Suzhou, China.
According to the JVS website, Jacobs introduced the first engine brake for commercial vehicles in 1961. The technology, which became known as the Jake Brake, was invented by Clessie Cummins, who founded Cummins.