INDIANAPOLIS, Nov. 16, 2012 /PRNewswire/ -- Allison
Transmission Holdings Inc. (NYSE: ALSN) announced today that it has
reached a new five-year tentative labor agreement with United Auto
Workers (UAW) Local 933. The new labor contract must still be
ratified by the union membership.
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"We are happy to come to this tentative agreement. Both
parties have worked hard to develop an agreement that continues to
build a future for our employees and Allison Transmission," said
Robert M. Price, Allison
Transmission's Vice President of Human Resources. "We are
excited to continue providing our customers and business partners
with the high level of products and services they have come to
expect."
The UAW represents approximately 1,500 employees at various
Allison Transmission locations in Indianapolis. Negotiations have been underway
since Sept. 4.
About Allison Transmission
Allison Transmission is the world's largest manufacturer of
fully-automatic transmissions for medium- and heavy-duty commercial
vehicles, medium- and heavy-tactical U.S. military vehicles and
hybrid-propulsion systems for transit buses. Allison transmissions
are used in a variety of applications including on-highway trucks
(distribution, refuse, construction, fire and emergency), buses
(primarily school and transit), motor homes, off-highway vehicles
and equipment (primarily energy and mining) and military vehicles
(wheeled and tracked). Founded in 1915, the Allison business is
headquartered in Indianapolis,
Indiana, U.S.A. and employs approximately 2,800 people.
Allison has manufacturing facilities and customization centers
located in China, The Netherlands, Brazil, India
and Hungary. With a global
presence, serving customers in North
America, Europe,
Asia, Australia, South
America, and Africa,
Allison also has over 1,500 independent distributor and dealer
locations worldwide. More information about Allison is available at
www.allisontransmission.com.
This press release may contain forward-looking statements. All
statements other than statements of historical fact contained in
this press release are forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as
"may," "will," "should," "expect," "plans," "project,"
"anticipate," "believe," "estimate," "predict," "intend,"
"forecast," "could," "potential," "continue" or the negative of
these terms or other similar terms or phrases. Forward-looking
statements are not guarantees of future performance and involve
known and unknown risks. Factors which may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made include, but are not limited
to: whether or not the members of the United Auto Workers
(UAW) Local 933 ratify the terms of the proposed labor agreement,
any action that may be taken by us or the UAW in the event that the
proposed labor agreement is not ratified, and the final terms and
conditions of the ratified labor agreement; risks related to our
substantial indebtedness; our participation in markets that are
competitive; general economic and industry conditions; our ability
to prepare for, respond to and successfully achieve our objectives
relating to technological and market developments and changing
customer needs; the failure of markets outside North America to increase adoption of
fully-automatic transmissions; the discovery of defects in our
products, resulting in delays in new model launches, recall
campaigns and/or increased warranty costs and reduction in future
sales or damage to our brand and reputation; the concentration of
our net sales in our top five customers and the loss of any one of
these; risks associated with our international operations; brand
and reputational risks; our intention to pay dividends; and labor
strikes, work stoppages or similar labor disputes, which could
significantly disrupt our operations or those of our principal
customers. Although we believe the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that the expectations will be attained or
that any deviation will not be material. All information is as of
the date of this press release, and we undertake no obligation to
update any forward-looking statement to conform the statement to
actual results or changes in expectations.
SOURCE Allison Transmission Holdings Inc.