COLUMBUS, Ind. – Eaton and Cummins announced today that they are forming a joint venture for automated transmissions for heavy-duty and medium-duty commercial vehicles.

According to the companies, the joint venture will be named Eaton Cummins Automated Transmission Technologies. Both Cummins and Eaton will each own 50% of the new joint venture.

“Customers are focused on powertrain solutions that provide the best combination of technology, performance and quality,” said Craig Arnold, Eaton chairman and chief executive officer. “Our joint venture with Cummins will leverage the technical strengths and experience of two industry leaders with long histories and deep industry expertise to provide superior automated transmission technology for our global customers.”

“Our growth strategy includes expanding our product offerings and extending our global footprint by becoming the world’s leading powertrain supplier,” added Tom Linebarger, chairman and CEO, Cummins Inc. “Our JV with Eaton will deliver the most advanced automated transmissions and develop an integrated powertrain and service network that supports our customers like never before. Just as we’ve done for the past 100 years, we will use our experience in partnerships and technological expertise to ensure our customers’ success.”

The joint venture will design, assemble, sell and support all future medium-duty and heavy-duty automated transmissions for the commercial vehicle market.

More information to come this afternoon from Eaton’s conference call scheduled at 1 p.m.