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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 partnered with GILLIG to introduce the eGen Flex electric hybrid propulsion system for heavy-duty transit buses starting in 2021. This system is designed to enhance fuel economy by up to 25% compared to conventional diesel buses while supporting electric operation for up to 10 miles. The eGen Flex aims to offer efficient public transport solutions with reduced emissions and lower maintenance costs. GILLIG's initial order for these buses comes from IndyGo, the Indianapolis Transportation Corporation. Since 2003, Allison has delivered over 9,000 electric hybrid systems globally.
The U.S. Army has chosen Allison Transmission to advance the engineering of the X1100-3B1 transmission for the Abrams tank, focusing on improving speed, cruising range, and durability. This initiative continues the ongoing enhancements made to the Abrams since its introduction in the 1980s and underscores the long-standing partnership between the Army and Allison. Dana Pittard, the VP for Defense Programs at Allison, emphasized the company's commitment to delivering reliable powertrain solutions that meet military needs. Allison Transmission is a leader in fully automatic transmissions for commercial and defense vehicles.
Allison Transmission Holdings (NYSE: ALSN) will announce its fourth quarter and full year 2020 financial results on February 18 at 8:00 a.m. ET. The call will be led by CEO David S. Graziosi and CFO G. Frederick Bohley. The financial results press release will be issued after market close on February 17. Interested parties can join the call using a dial-in number or via a live webcast. A replay of the call will be accessible from February 18 to February 25, using designated numbers.
Allison Transmission has been awarded the prestigious 2019 Master of Quality Award from Daimler Trucks of North America (DTNA) for the fourth time. This accolade acknowledges exceptional suppliers based on quality, delivery, technology, and cost performance. Ken Pyne from DTNA commended Allison for prioritizing quality, while Rohan Barua, VP of North America OEM Sales, highlighted their commitment to high standards. DTNA is a major customer for Allison, supplying leading heavy-duty truck brands like Freightliner and Western Star.
Allison Transmission announces the delivery of the autonomous NTR100A rigid dump truck, equipped with the Allison 8610 Off Road Series™ fully automatic transmission, enhancing driverless technology in China's mining sector. This truck features two control modes and is powered by a Cummins QST30 engine with 783kW output. With 20 units delivered to Conch Cement, the trucks aim to address driver shortages and improve operational safety. Allison's transmission technology promises durability, optimal performance, and better fuel efficiency for mining operations.
Allison Transmission Holdings, Inc. (NYSE: ALSN) announced the successful completion of a $1 billion offering of 3.750% Senior Notes due 2031. Proceeds will be used to redeem existing 5.000% Senior Notes due 2024, resulting in anticipated annual savings of approximately $12.5 million in interest expense. Additionally, the company's subsidiary amended its credit agreement, increasing the revolving credit facility from $600 million to $650 million, extending maturity to September 2025. These actions reflect Allison's commitment to prudent financial management.
Allison Transmission Holdings (NYSE: ALSN) announced a private placement of $1 billion in 3.750% Senior Notes due 2031, priced on November 9, 2020. The proceeds will be used to redeem $1 billion of 5.000% Senior Notes due 2024. The offering is expected to close around November 19, 2020, subject to usual conditions. The Notes are guaranteed by domestic subsidiaries under certain conditions but will not initially have guarantees from these subsidiaries. The offering is exempt from registration under the Securities Act of 1933.
Allison Transmission Holdings (NYSE: ALSN) announced plans to offer $1 billion in senior unsecured notes due 2031 and aims to amend its existing credit agreement to increase its revolving credit facility to $650 million, maturing in September 2025. The proceeds will be used to redeem outstanding 2024 Senior Notes. The notes will be privately placed with qualified institutional buyers and will not be registered under the Securities Act. No domestic subsidiaries will initially guarantee the notes. Forward-looking statements highlight risks related to the offering and market conditions.
Allison Transmission Holdings Inc. (NYSE: ALSN) has rescheduled its third quarter 2020 financial results conference call to 5:00 p.m. ET on October 29 due to technical difficulties with a third-party service provider. CEO David S. Graziosi and CFO G. Frederick Bohley will detail the company's financial performance during the period. A live webcast will be available, and a replay of the call can be accessed from 8:00 p.m. ET on October 29 until November 5. Allison Transmission is the largest manufacturer of fully automatic transmissions for commercial and defense vehicles.
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