When Allison Transmission Holdings Inc. a year ago filed plans to go public, it said some of the proceeds would go toward reducing billions of dollars in debt. But, in an updated filing with the SEC, the company reversed course, saying all of the more than $500 million that’s expected to be raised would go to its private-equity owners.
Indianapolis-based Allison Transmission Holdings Inc., the former parts unit of General Motors Co., is seeking to raise as much as $522 million for its private-equity owners in an initial public offering.
Net income of $103 million last year compares with a profit of $29.6 million in 2010 and a loss of $323.9 million in 2009, according to a document the transmission maker filed Feb. 17 with the Securities and Exchange Commission as part of its planned IPO.
Manufacturer churns out 5,000th system for hybrid buses, a transmission used round the world.
The manufacturer was more profitable in the first nine months of this year than all of last year.
Allison Transmission Inc. hasn’t given up on going public, despite nearly eight months passing since its initial filing with the Securities and Exchange Commission.
The 150-employee operation will ship products to international customers.
Indianapolis-based Allison Transmission in March said it planned to raise $750 million through a public stock sale, but the economic outlook has darkened since then.
The industry is waiting for the magic combination of high fuel prices and government-backed incentives to turn potential into profit.
Allison Transmission plans to invest $89 million to grow its headquarters and manufacturing operations, creating as many as 205 jobs by 2013.
The town of Speedway will reroute West 10th Street to help Allison Transmission consolidate its parking lots and accommodate new employees tied to a hybrid transmission the company is developing.
President Barack Obama plans to make a trip to Indianapolis on Friday to visit Speedway-based manufacturer Allison Transmission Inc., the company confirmed Monday afternoon.
Allison Transmission is not a household name like Google or General Motors, but it won’t lack an audience for its planned $750 million initial public offering.
Allison Transmission Inc. is counting on upgrades to truck and bus fleets in countries like China and India for its future growth, the company revealed in a filing it made Friday to raise up to $750 million through an initial public offering.
Allison Transmission Inc.'s enormous debt load is probably one factor driving the company to consider a public offering, an investment analyst said Monday morning.
The Indianapolis company, the world's largest maker of commercial transmissions, may go public in the third quarter, Reuters reported.
The Speedway-based transmission company will be an associate sponsor of the team’s entry in the 100th-anniversary Indy 500.
A former China-based executive of Allison Transmission has agreed to drop a lawsuit that claimed the company won business by bribing foreign officials. But it's likely that the firm still must deal with scrutiny from the Department of Justice, according to one legal expert.
Stephen Lowe, a former Allison Transmission managing director based in Shanghai, claims the company booted him from a top post in China because he raised concerns about bribery.
A Chevrolet campaign could make the Speedway-based manufacturer more of a household name.
