JAGUAR-CUMMINS AGREEMENT
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THE. vec-engine production agreemeat bemeen Jaguar Cars Ltd., Covemi and ( 'unimins Engine Co. Inc., of Columbus. Indiana, USA, has now been rainied. A statement issued on Monda■reads: " This joint venture agreement will result in the immediate formation of a companv owned equally by the two parent companies to he called Jaguar-Cummins Ltd. The manufacturing facilities of the new compan±. \VIII he located in existing Jaguar-owned facilities which will be specially equipped for the production of Cummins V6 VIM and V8VINE engines.
" The project is expected to cost more than £2m. and a production target of 50 engines per day is envisaged. Production will be built up in stages, utilizing components to be furnished by Cummins, so as to provide complete engines during the present year. The manufactured content of the engines will be increased gradually as the new facilities come into full operation—a process which, it is expected, will take approximately two years to complete.
" Jaguar-Cummins Ltd. will provide engines for use in Daimler and Guy buses and commercial. vehicles, and to Cummins for other sales into automotive, construction, marine and industrial markets, both in the United Kingdom and overseas."