Cummins Inc., a manufacturer and distributor of engines, filtration and power generation products, has entered into a definite agreement to acquire, through a wholly-owned subsidiary, all the issued and outstanding shares of Hydrogenics Corporation.
“We are excited the Cummins has reached an agreement with Hydrogenics to welcome the employees and innovations of one of the world’s leading fuel cell and hydrogen generation equipment provider to our company,” said Tom Linebarger, Chairman and CEO of Cummins Inc.
“We look forward to partnering closely with Hydrogenics’ team in the coming weeks as we work toward closing the transaction. Upon closing, we will share more details about the acquisition and our strategy to offer a broad portfolio of power solutions to meet our customers’ needs.”
As part of the transaction, The Hydrogen Company, a wholly-owned subsidiary of L’Air Liquide, S.A., and Hydrogenics’ current largest equity shareholder, will maintain its ownership into Hydrogenics.
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