U.S. industrial firm Cummins to explore options for filtration unit

[August 03, 2021]  (Reuters) -U.S. industrial firm Cummins Inc said on Tuesday it would explore options for its unit which makes filters, coolant and chemical products, including spinning it off into a separate company.

Columbus, Indiana-based Cummins said it was exploring options for its filteration unit, which had sales of about $1.2 billion in 2020.

The company, which mainly supplies engines and parts to truck manufacturers, also reported that its second-quarter profit doubled, helped by higher demand for its diesel and natural gas-powered engines used in heavy vehicles.

Net income for the quarter ended July 4 rose to $600 million, or $4.10 per share, from $276 million, or $1.86 per share, a year earlier.

Net sales rose $6.11 billion from $3.85 billion a year ago.

(Reporting by Abhijith Ganapavaram in Bengaluru; editing by Vinay Dwivedi)

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