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Allison Transmission Holdings, Inc. (NYSE: ALSN) stands as the world's largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, and a leader in hybrid-propulsion systems for city buses. Founded in 1915, Allison is headquartered in Indianapolis, Indiana, USA, and employs approximately 2,700 people worldwide. The company boasts a strong global presence with operations in over 80 countries and regional headquarters in the Netherlands, China, and Brazil.
Allison's products are utilized in a diverse array of applications, including refuse, construction, fire, distribution, bus, motorhomes, defense, and energy sectors. Their transmissions are designed to enhance fuel and operator efficiency, making them a preferred choice over manual and automated manual transmissions. With a commanding presence in the on-highway business, Allison holds about 60% of the global market share in Class 4-8 trucks, buses, and certain heavy-duty passenger vehicles like motorhomes.
Committed to innovation, Allison is at the forefront of developing electric hybrid propulsion systems and e-powertrains, extending its technological reach into sustainable transportation solutions. A testament to this commitment is the recent partnership with New Flyer to equip New Orleans' buses with Allison's eGen Flex® electric hybrid propulsion system, offering enhanced sustainability and emergency preparedness capabilities.
Allison also prides itself on a robust and expansive service network, with approximately 1,600 independent distributor and dealer locations worldwide. Recent expansions include a new authorized service location in Rwanda and collaborations with major partners such as Penske in Australia and Polska Grupa Zbrojeniowa in Europe, ensuring comprehensive support and service availability for their products globally.
Financially, Allison continues to show strong performance. In the first quarter of 2024, the company reported record net sales of $789 million, driven by robust demand across various markets and strategic price increases. Despite industry challenges, Allison has maintained a prudent balance sheet, focusing on a low-cost, flexible debt structure and continued capital returns to shareholders through share repurchases and increased dividends.
Allison's venture arm, Allison Ventures, further underscores their dedication to future growth and innovation by committing $10 million to EnerTech Capital, aiming to access and leverage emerging automotive technologies. This strategic investment aligns with Allison's broader efforts to enhance its innovation pipeline across commercial mobility and work solutions.
For more detailed information on Allison Transmission's products, services, and latest developments, visit allisontransmission.com.
Allison Transmission has signed an asset purchase agreement to acquire the off-highway transmission portfolio and component machining business of India-based AVTEC Ltd for approximately $27 million. This strategic acquisition aims to enhance Allison's market presence in both India and global markets by integrating AVTEC's capabilities into its Chennai manufacturing plant. The acquisition is expected to close by the end of 2021 but will not materially impact Allison's current fiscal year earnings, as stated by the company.
Allison Transmission (NYSE: ALSN) will host a virtual Technology Day on October 6, 2021, at 10:00 AM ET. The event will highlight the company's commitment to innovation and discuss strategies for its conventional and electrified vehicle propulsion solutions. Key topics include opportunities in the commercial EV sector, differentiated EV technology, and global market trends. Presentations will be led by various executives, followed by a live Q&A. For registration, visit here.
Allison Transmission (NYSE: ALSN) has expanded its Vehicle Environmental Test Center, now known as the Vehicle Electrification and Environmental Test Center (VE+ET). Located in Indianapolis, this facility is the only one of its kind in the Midwest, offering unique capabilities for vehicle electrification testing. The center supports the development of electric vehicle technologies and can simulate various environmental conditions. Recent enhancements include a focus on larger battery electric vehicle testing, up to 900 volts DC, and commercial fast charging capabilities at 150 kilowatts.
Allison Transmission (NYSE: ALSN) has partnered with Hino Trucks to develop e-Axles for Class 6, 7, and 8 Battery Electric Vehicle (BEV) trucks, formalized through a Joint Collaboration Agreement. This partnership builds on their existing relationship in conventional transmission solutions. The eGen Power 100S will be first integrated into Hino's trucks, enhancing their electric vehicle offerings. The eGen Power product line is designed for high reliability and efficiency, boosting Allison's presence in the commercial vehicle market.
Allison Transmission has unveiled its new eGen Power 100S and 130D e-Axles, enhancing its electric propulsion portfolio for medium and heavy-duty vehicles. The eGen Power 100S features a single motor generating 212 kilowatts continuously, while the 130D variant targets European and Asia Pacific markets with a 13-tonne axle rating. Both models aim to meet diverse market needs, integrating advanced technology like a two-speed gearbox and regenerative braking. These products promise maintenance-free operation, enhancing total cost of ownership.
Allison Transmission (NYSE: ALSN) announces the integration of its H 40 EP™ electric hybrid propulsion system into San Francisco's Muni buses, in collaboration with ElDorado National. This system is designed to reduce diesel fuel consumption by up to 25% and lower CO2 emissions. SFMTA has contracted ElDorado for 30 hybrid buses equipped with this technology, expected for delivery in Q2 2022. Allison has already deployed over 9,000 hybrid propulsion systems globally, saving significant fuel and reducing carbon emissions over 2.9 billion miles of operation.
Allison Transmission Holdings (NYSE: ALSN) has declared a cash dividend of $0.19 per share for Q3 2021, payable on August 27, 2021 to stockholders on record as of August 16, 2021. Future dividends will be determined by the Board based on the company's financial health, cash flow, and other relevant factors. Allison specializes in automatic transmissions and electrified propulsion systems, serving diverse applications in commercial and defense vehicles across over 150 countries.
Allison Transmission has appointed JK Pareek as the new Vice President of Information Systems and Services (IS&S) and Chief Information Officer. Pareek will spearhead the development and implementation of IT strategies aligned with business objectives while ensuring security and optimal ROI. He previously served as CIO for Nidec Motor Corporation and has extensive IT leadership experience at SunEdison, MEMC, and Texas Instruments. Allison Transmission, a leader in vehicle propulsion solutions, operates globally with facilities in the USA, Hungary, and India.
Allison Transmission Holdings reported a 60% increase in net sales for Q2 2021, totaling $603 million, driven by a recovery in customer demand across various markets. North America On-Highway sales rose by 84%, while Outside North America On-Highway saw a 63% increase. Net income surged to $110 million with diluted EPS at $1.01. Adjusted EBITDA reached $213 million, up 85% year-over-year. The company reaffirmed its full-year guidance amid ongoing global supply challenges. Share repurchases amounted to $130 million, representing 3% of outstanding shares.
Allison Transmission has announced the launch of the TerraTran, a new propulsion solution designed for the construction and mining markets. This product is a variant of the proven 4000 Series transmission, offering enhanced horsepower of up to 800 and torque capability of 3,025 lbs./ft.. TerraTran features seven forward and two reverse speeds, enhancing productivity and efficiency. The initial application will be in partnership with Xuzhou Construction Machinery Group for their all-terrain cranes. This collaboration emphasizes Allison's commitment to leveraging over 65 years of industry experience.
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