More than 81% of United Auto Workers Local 933 members voted Tuesday to ratify a new employment contract with Indianapolis-based Allison. The members had been working under the terms of a previous contract that expired in mid-November.
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The 1,500 members of UAW Local 933 are making plans to walk out at Allison Transmission if the company doesn’t meet the union’s demands.
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The $1.2 trillion law could be a boon for huge corporations like Cummins Inc. and Allison Transmission Inc. and smaller ones like Telamon Corp., 120Water Inc. and BCA Environmental Consultants LLC.
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Indianapolis-based Allison, which recently formed a partnership with Beijing-based Jing-Jin Electric, announced Wednesday that it will participate in Jing-Jin’s upcoming initial public offering.
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Indianapolis-based Allison Transmission plans to add 200,000 square feet to its manufacturing facility in Chennai, India, the company announced Thursday, doubling its manufacturing footprint at the site.
Allison is Indiana’s 18th largest public company in terms of annual revenue, reporting $3 billion in sales and $672 million in profit for 2023.
As part of its investment, Indianapolis-based Allison will gain access to EnerTech Capital’s network of companies working on automotive technologies in the areas of electrification, connectivity, autonomy and digitization.
The proposed four-year contract has a starting wage of $20 an hour and bonuses adding up to $7,000.
Allison Transmission said its NextGen transmission, if accepted, will be part of the U.S. Army’s Optionally Manned Fighting Vehicle.
Allison Transmission Inc. has invested $335 million over the past four years in product development, strategic acquisitions and new facilities and capabilities, including a new Innovation Center and a separate vehicle testing center at its West 10th Street headquarters campus.
Conexus’ new president and CEO, Fred Cartwright, has held a variety of innovation-focused leadership positions in the manufacturing industry, including at Allison Transmission, General Motors and an automotive research facility affiliated with Clemson University in South Carolina.
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Although its financial performance hasn’t yet recovered to pre-pandemic levels, the Indianapolis-based manufacturer’s third-quarter financial results exceeded analysts’ expectations.
The new center, on the manufacturer’s Speedway campus, can simulate extreme heat and cold as well as a variety of altitudes and road conditions.
Allison Transmission Holdings Inc. on Tuesday reported second-quarter earnings that surpassed Wall Street expectations but revenue that fell short.
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
The company, which shut down some of its production lines beginning March 30, said the uncertainty caused by the COVID-19 pandemic is forcing it to cut 272 jobs.
Allison said it’s suspending some of its local production lines because the coronavirus outbreak has disrupted supply chains and weakened customer demand.
Indianapolis-based Allison Transmission Holdings Inc. on Wednesday reported lower fourth quarter revenue and earnings than a year ago, but the results beat Wall Street predictions.
Allison Transmission Holdings Inc. on Wednesday announced third-quarter earnings and revenue that surpassed Wall Street expectations.
Allison, which makes automatic transmissions, acquired one of its long-time suppliers, plus a company that makes tools for that supplier.
Allison attributed the increase in sales to higher demand in the North America On-Highway and Outside North America Off-Highway end markets.
Officials said the new project, combined with the Vehicle Environmental Test, or VET, facility announced earlier this year, would create more than 300 jobs altogether at Allison.
