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Cummins' Brammo Buyout on Track to Derive Electrified Power
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Cummins Inc. (CMI - Free Report) reported that it is in process to acquire Brammo, Inc.’s assets. Brammo engages in designing and developing battery packs and electric drivetrains.
Founded in 2002, Brammo has made a great progress in developing electric energy storage technology for mobile and stationary applications.
Per management, this acquisition will help the company own key elements of the electrification network along with diesel and natural gas driven powertrains. It will also aid the company to move ahead in the electrification business, among others.
Per Brammo’s chairman and CEO, Craig Bramscher, the company’s varied range of applications will enhance Cummins’ position in the electrified power space.
The deal is expected to close by this year-end, subject to customary closing conditions.
Post completion of the acquisition, Brammo’s operations will be carried under Cummins’ newly formed Electrification Business, headed by Julie Furber, executive director of Electrification at Cummins.
Going forward, Cummins is expected to gain from expansion strategies including acquisitions in North America and partnership in other regions. These strategies will enable the company to gain higher returns.
Also, with new emission standards in various economies, the company is actively involved in designing and developing electric vehicles for its consumers. In August, it announced its plan to develop a Class 7 heavy-duty electric truck with an advanced 140 kWh battery pack that can be used by bus and commercial truck operators.
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Cummins' Brammo Buyout on Track to Derive Electrified Power
Cummins Inc. (CMI - Free Report) reported that it is in process to acquire Brammo, Inc.’s assets. Brammo engages in designing and developing battery packs and electric drivetrains.
Founded in 2002, Brammo has made a great progress in developing electric energy storage technology for mobile and stationary applications.
Per management, this acquisition will help the company own key elements of the electrification network along with diesel and natural gas driven powertrains. It will also aid the company to move ahead in the electrification business, among others.
Cummins Inc. Price and Consensus
Cummins Inc. Price and Consensus | Cummins Inc. Quote
Per Brammo’s chairman and CEO, Craig Bramscher, the company’s varied range of applications will enhance Cummins’ position in the electrified power space.
The deal is expected to close by this year-end, subject to customary closing conditions.
Post completion of the acquisition, Brammo’s operations will be carried under Cummins’ newly formed Electrification Business, headed by Julie Furber, executive director of Electrification at Cummins.
Going forward, Cummins is expected to gain from expansion strategies including acquisitions in North America and partnership in other regions. These strategies will enable the company to gain higher returns.
Also, with new emission standards in various economies, the company is actively involved in designing and developing electric vehicles for its consumers. In August, it announced its plan to develop a Class 7 heavy-duty electric truck with an advanced 140 kWh battery pack that can be used by bus and commercial truck operators.
Some other important companies in the auto space are Adient PLC (ADNT - Free Report) , Autoliv Inc. (ALV - Free Report) and Continental AG (CTTAY - Free Report) .
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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