NASHVILLE - Atmus Filtration Technologies Inc. (NYSE: ATMU), a provider of filtration solutions, has officially announced its separation from Cummins Inc (NYSE:CMI)., commencing operations as an independent entity. The announcement was made today, marking a significant transition for the company, which has a history spanning over six decades.
Steph Disher, CEO of Atmus, expressed optimism about the company's future, emphasizing a commitment to delivering the filtration solutions that customers have come to expect. Disher highlighted the company's strategy and the dedication of its global team in pursuing Atmus's mission to protect what is important and create a better future.
In a simultaneous announcement, Cummins revealed the acceptance of approximately 5.57 million shares of its own common stock in exchange for roughly 67.05 million shares of Atmus common stock. Cummins has provided full details of the exchange in a separate press release.
Atmus has established itself as a leader in the filtration industry, serving a diverse range of markets, including truck, bus, agriculture, construction, mining, marine, and power generation. The company operates on six continents and employs about 4,500 people worldwide.
Headquartered in Nashville, Tennessee, Atmus continues to focus on innovation and aftermarket support to meet the evolving needs of its customers.
The press release also contained forward-looking statements about Atmus's anticipated financial performance and the expected benefits of the separation. These statements are based on current expectations and are subject to uncertainties and risks that could cause actual results to differ materially. Atmus has stated it will not update forward-looking statements publicly except as required by securities laws and advises investors not to place undue reliance on them.
This news article is based on a press release statement from Atmus Filtration Technologies Inc.
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