9/9/2011 8:30:00 AM
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Truck engine manufacturer Cummins Inc. announced Thursday that it has agreed to sell its light-duty filtration operations to an equity investment firm, Industrial Opportunity Partners. Terms were not disclosed.
Cummins said the sale affects its Kuss Filtration business in Findlay, Ohio, its filtration business at Bloomer, Wis., and Kuss operations in Sao Paulo, Brazil and Shanghai, China. These facilities produce light-duty filtration products, including in-tank fuel filters, for smaller gasoline engines, Cummins said.
Hasnain Merchant, a current Cummins executive and CEO of the new company, said the new business will revive the name Kuss Filtration and be headquartered in Findlay.
â€œThis is a very exciting opportunity for Light Duty Filtration business to be able to work with IOP, who will be dedicated to invest and grow the business,â€� Merchant said in a statement.
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