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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She and her husband, Robert, purchased the company in 1997, but she worked her way up the corporate ladder before taking on an official role.
The company expects to close on the acquisition of the off-highway business unit of Ohio-based Dana Inc. at or near the end of this year.
The award follows an $80 million contract that Allison received from the program for 2025 and an $83 million contract for 2024.
Indianapolis-based Allison Transmission Holdings Inc. outperformed analysts’ expectations in the second quarter, but the manufacturer also says its full-year revenue and profits will likely be lower than it had previously expected.
The business unit employs about 11,000 people in 25 countries. Allison did not specify if any jobs would be negatively affected by the deal.
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.
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.
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.
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.
