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Fact or Fiction – Ford Owns Cummins

That is fiction. Ford does not own Cummins Inc. We believe this story comes from a point in history when Ford owned a minority portion of Cummins stock. On July 16, 1990, Cummins and Ford reached an agreement for Ford to purchase shares of Cummins stock. Ford purchased preferred stock equivalent to 10.8 percent of the common stock. Then, as planned, on January 4, 1997, Cummins announced that it had bought back its shares from Ford.

Today, Cummins Inc. is the world’s largest independent diesel engine manufacturer, and Cummins shares are traded publicly on the New York Stock Exchange under the stock symbol CMI. At this time there are no individual investors with any controlling interest. The company is still headquartered in Columbus, Ind., where it was founded.

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