The way that energy is stored and delivered - within both electric vehicles and our homes - is being revolutionised and is helping to shape and direct the technology-led initiative and collaboration that is taking place throughout the energy sector.
Automotive, corporate and energy experts from Gowling WLG have assisted Cummins, a global power leader which designs, manufactures and services diesel and alternative fuel engines and generators for use in the automotive industry, in their acquisition of Johnson Matthey PLC's UK automotive battery systems business. As part of the deal, the two power houses have also agreed to work collaboratively and combine their respective expertise towards the future development of high energy battery materials.
The acquisition allows Cummins to expand its electrification and energy storage capabilities, in its drive to sit at the forefront of the electrified power industry. Since its foundation, Cummins has been renowned for not only innovating the power industry, but maintaining and practicing rigorous core values of integrity, diversity & inclusion, caring, excellence and teamwork. They have a long standing commitment to uphold the highest ethical standards and the acquisition helps push Cummins closer to its goal of creating a cleaner, healthier and safer environment.
Commenting on this, Chris Towle, lead Corporate Partner at Gowling WLG on the deal, said:
"It has been a pleasure to work collaboratively with Cummins, and to be able to bring bespoke advice and guidance to bear on an exciting and strategically important move. With energy storage product development at arguably its most exciting and innovative stage, as the race to compete intensifies - and with the global reach of our client, Cummins is well set to dominate the race."
The importance of the acquisition was confirmed by Tom Linebarger, Chairman and CEO, Cummins Inc: "The addition of Johnson Matthey Battery Systems' technical expertise and customer base in markets that are more rapidly adopting electrification further positions us as a global energy storage supplier. By combining our electrification capabilities, portfolio of diverse power solutions, and global network, Cummins is uniquely positioned to lead in electrification. What differentiates us is our ability to help customers succeed with high quality products across the spectrum of power solutions they use, whether it's electric, diesel, natural gas or other energy solutions."
About Cummins Inc.
Cummins Inc., founded in 1919, is a multinational Fortune 500 Company, serving customers worldwide in the areas of state-of-the-art and high-power engines, power generation, components and distribution. It is a corporation of complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. With its headquarters in Columbus, Indiana, (USA) Cummins currently employs approximately 55,400 people worldwide and serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and approximately 7,400 dealer locations. Cummins earned $1.39 billion on sales of $17.5 billion in 2016.
About Johnson Matthey PLC
Johnson Matthey PLC is a global leader in sustainable technologies, who applies cutting edge science in the drive towards a cleaner and healthier world. The group has four core focus areas of clean air, efficient natural resources, health and a variety of new and emerging markets that complement its core technology competencies. Johnson Matthey's science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources.
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For more information relating to Johnson Matthey, visit www.matthey.com