Published: October 26, 2010
Cummins Announces Purchase of First Financial Bank Office Building to Meet Needs of Growing Professional Workforce
COLUMBUS, Ind - (BUSINESS WIRE) - Cummins Inc. (NYSE:CMI) announced today that it has reached an agreement
to purchase the First Financial Bank branch and office tower at 500
Washington St. in Columbus to meet the demand for office space for its
growing Southern Indiana workforce.
Cummins plans to add at least 350 professional employees to the local
workforce over the next 18 months, largely as result of the Company's
expected strong growth around the world over the next several years. The
new jobs will be in engineering, technical and other professional
positions, and will support Cummins' global operations.
Cummins, which currently employs about 6,000 people in Indiana, began
moving employees into its newest office in downtown Columbus in 2009.
That building is expected to be filled in early 2011.
"Our success in our global markets has a direct benefit to Indiana where
we are creating the kind of high-paying professional jobs that
strengthen our community," said Cummins Chairman and Chief Executive
Officer Tim Solso. "Simply put, growth in international markets like
India, China and Brazil create jobs in Indiana."
"Growth in international markets is once again creating hundreds of
opportunities for Hoosiers," said Indiana Gov. Mitch Daniels. "This is
the company's second major expansion in just a few months which is
further indication that Indiana continues to be the global location of
choice for businesses."
The State of Indiana is providing Cummins with tax incentives to support
the job growth as well as providing financial resources and other
support to the community to enhance its educational systems.
"We cannot create good jobs without the education infrastructure to
support them," said Cummins President and Chief Operating Officer Tom
Linebarger. "That is why we applaud Indiana's investment in programs
that will strengthen our education system."
Cummins also recognizes Lilly Endowment, Heritage Fund and the Community
Education Coalition for their continued support of advanced
manufacturing education programs across South and Central Indiana
through the Economic Opportunities 2015 program. The program is designed
to create job opportunities in a 10-county region through improved
access to the education and skills necessary to succeed in today's
advanced manufacturing environment.
The First Financial Bank buildings provide an ideal location for
additional offices for Cummins' growing workforce. They are directly
across the street from the company's Corporate Office Building in the
heart of downtown Columbus.
Cummins expects to close on the buildings by the end of this year and
take possession by the end of the first quarter 2011. First Financial
has plans to build a new Columbus complex on property at Third and Brown
streets in downtown Columbus.
This is Cummins' second significant jobs announcement in Indiana in
recent months. In July, Cummins announced a $100 million investment in
an expansion of its High-Horsepower Technical Center and production line
in Seymour. Cummins expects to add as many as 200 engineering and
technical jobs over the next five years.
About Cummins
Cummins Inc., a global power leader, is a corporation of complementary
business units that design, manufacture, distribute and service engines
and related technologies, including fuel systems, controls, air
handling, filtration, emission solutions and electrical power generation
systems. Headquartered in Columbus, Indiana, (USA) Cummins serves
customers in approximately 190 countries and territories through a
network of more than 500 company-owned and independent distributor
locations and approximately 5,200 dealer locations. The Company reported
net income attributable to Cummins Inc. of $428 million on sales of
$10.8 billion in 2009. Press releases can be found on the Web at www.cummins.com. Follow
Cummins on Twitter at http://twitter.com/cummins.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
company's expectations, hopes, beliefs and intentions on strategies
regarding the future. It is important to note that the company's actual
future results could differ materially from those projected in such
forward-looking statements because of a number of factors, including,
but not limited to, general economic, business and financing conditions,
labor relations, governmental action, competitor pricing activity,
expense volatility and other risks detailed from time to time in Cummins
Securities and Exchange Commission filings.

Cummins Inc.
Mark Land, Executive Director - Corporate
Communications, 317-610-2456
mark.d.land@cummins.com
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