Cummins files to create filtration business stock offering
Cummins is moving forward with plans to spin off its filtration business.
The company filed documents with the Securities and Exchange Commission to have an initial public offering of stock for the new company, to be called Atmus Filtration Technologies. The name comes from the word “atmosphere” and is meant to reflect the company’s purpose of protecting what is important in the environment, according to the company. The stock symbol will be ATMU.
Steph Disher will continue as CEO of the company.
Atmus Filtration Technologies was founded by Cummins in 1958. The company is a global leader in filtration products for on-highway commercial vehicles and off-highway vehicles and equipment includeing those in agriculture, construction, mining and power generation.
The number of shares to be offered and the price range for the offering have not yet been announced. The IPO is expected after the SEC completes its review process.