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Article: Iveco, New Holland and Cummins announce joint venture to produce new series of diesel engines; each company to take one-third stake in "European Engine Alliance" joint venture company to develop and produce one litre per cylinder engines.
- Article from:
- Business Wire
- Article date:
- May 1, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON--(BUSINESS WIRE)--May 1, 1996--Today the Chief Executive Officers of Iveco, New Holland and Cummins Engine Co. Inc. announced the formation of a new joint venture, "European Engine Alliance" (E.E.A.), for the design and manufacture of a new series of diesel engines. Ownership will be shared one third each among the partners. Leading the development venture is Carl Ahlers, who has worked in the past with the Cummins and Iveco organizations and was most recently responsible for New Holland's Engine Engineering Department.
The strategic long-term partnership will develop and produce the next generation of one litre per cylinder diesel engines with power outputs ...