Cummins honored by Mexico for its multinational operations
Dec 11, 2001 12:00 PM
Cummins Inc, Columbus, Indiana, has announced that it is the first multinational corporation to be awarded Mexico's National Prize for Exports for its Mexican subsidiary, CUMMSA. CUMMSA manufactures new engine components and remanufactured engines. The primary aim of the award is to encourage Mexican-owned companies to engage in global business.
Mexican officials praised Cummins Inc as a model of globalization and described CUMMSA as "a unique multinational operation with a definite Mexican flavor." CUMMSA has increased its sales by more than 50% in the past three years while more than doubling net profits per employee and net foreign exchange earnings.
Steve Knaebel, president and general manager of CUMMSA accepted the award from Mexican President Vicente Fox during an awards ceremony at the 9th Mexican Trade Congress November 30.
The awards ceremony was attended by former United States President George Bush and a number of Mexican government officials and industry leaders.