NASHVILLE, Tenn.--Cummins Filtration, a division of Cummins Inc. (NYSE: CMI), today announced that it has signed an agreement to sell its North Plant (100,000 square feet) in Lake Mills, Iowa to the City of Lake Mills and donate the child care and fitness center facilities (30,000 square feet) to the city.
Additionally, as part of our ongoing commitment to the city we wanted to donate the child care and fitness center building to ensure continued service for Lake Mills and the surrounding community. We will continue to assist these operations through the end of the current contract.
Cummins Filtration will lease approximately 35,000 sq. ft. back from the City of Lake Mills for the continued production of filtration media. The sale of the property will be contingent on finalizing the lease back agreement with the City of Lake Mills.
Cummins wanted to do the right thing for the City of Lake Mills. We are committed to helping the city bring new business to the area, said Joseph Saoud, President - Cummins Filtration. Additionally, as part of our ongoing commitment to the city we wanted to donate the child care and fitness center building to ensure continued service for Lake Mills and the surrounding community. We will continue to assist these operations through the end of the current contract.
The potential purchase of the facility by our city puts us in a unique position to attract the best buyer with the opportunity to create new jobs for the residents of Lake Mills, said Dave Steffens, Sr., Lake Mills Mayor. We are happy that Filtration decided to work with us on this property and appreciate their support in attracting new industry to the area.
Cummins Filtration will continue to operate the Lake Mills South Plant.
Terms of the sale were not disclosed.
About Cummins Filtration
Cummins Filtration Inc. is a wholly owned business unit of Cummins Inc. and the world's leading designer and manufacturer of filtration and chemical technology products for all engine-powered equipment. The Company's product lines cover a wide variety of applications and markets, including heavy-, medium- and light-duty trucks; industrial equipment for construction, mining, agriculture and marine applications; as well as products for the power generation industry. The Company's homepage can be found at cumminsfiltration.com. To find a local Fleetguard product retailer, customers can visit the Worldwide Retail locator at cumminsfiltration.com/wrl. Find us on Facebook, Twitter and YouTube. In North America, customers can call Cummins Filtration at 1-800-22FILTER (1-800-223-4583) for more information.
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 employs approximately 44,000 people worldwide and serves customers in approximately 190 countries and territories through a network of more than 600 company-owned and independent distributor locations and approximately 6,500 dealer locations. Cummins earned $1.85 billion on sales of $18.0 billion in 2011. Press releases can be found on the Web at www.cummins.com.