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Cummins-White Merger Proposal T wo U.S.A. companies --Cummins Engine Co., Columbus,
8th November 1963, Page 66
8th November 1963
Page 66
Page 66, 8th November 1963
— Cummins-White Merger Proposal T
wo U.S.A. companies --Cummins Engine Co., Columbus,
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Ind., and White Motor Co., Cleveland, Ohio—are planning to merge and form a new concern—White-Cummins Corporation.
The proposal, which would give Cummins' holders 51-08 per cent and White Motor holders 48.92 per cent of the new corporation's common stock, is to be submitted to shareholders.
White Motor Co. is a large customer for Cummins diesel engines. White earned a profit of about /4.3 m. on sales valued at £160m. in 1962. Cummins' net profit last year was £.3•8 m. on sales of about /60 m.