In addition to multipurpose road management vehicles, Allison is now supplying fully automatic transmissions for road surface sweepers and runway snow removal equipment
SEOUL, South Korea – August, 2016 – Allison Transmission has been selected by ReTech, a leading Korean road equipment manufacturer, to expand the number of fully automatic transmissions it supplies for the company’s specialty vehicles.
Founded in 1994, ReTech is Korea’s largest manufacturer of multipurpose road management vehicles and winter service vehicles. It has led the way in replacing expensive imports with their own independently-developed equipment. ReTech is currently developing or manufacturing more than 60 types of specialty vehicles.
“For more than 15 years, ReTech has dedicated itself to research and development of new products to help the government and companies more efficiently maintain roads and road facilities,” said Hyeok-jae Lee, technology director for ReTech. “Allison fully automatic transmissions live up to the values that we pursue, including efficiency, reliability and highest possible value for customers.”
Multipurpose road management vehicles are ReTech’s core products and are the only Korean vehicles capable of maintaining roads through all four seasons. A flat device at the front of the vehicle can be used to wash and clean during the summer, and remove snow in winter. The runway snow removal equipment can swiftly remove heavy snow from runways, taxiways and moorings.
Until recently, Allison had primarily supplied its fully automatic transmissions for ReTech’s multipurpose road management vehicles. However, as a result of their many benefits, ReTech now uses Allison products in more of its vehicles, including road surface sweepers, runway snow removal equipment, vacuum trucks for runways, and communication vehicles.
“Domestic demand for specialized vehicles for road management and cleaning is burgeoning,” said Kyoung-mee Lee, country manager for Allison Transmission. “We are receiving more and more inquiries about Allison products, which maximize productivity and efficiency. We are proud to expand our relationship with ReTech and help make the urban environment in Korea cleaner and safer.”
The advantages of Allison Automatics are numerous. With an Allison, the driver does not have to manipulate the clutch and shift the gear, which reduces fatigue. An Allison also delivers smooth gear shifting and quieter driving, which are major benefits for road management vehicles. Fuel efficiency is increased because the transmission optimally accounts for cargo load, ground evenness and sloping, and operating conditions. Additionally, time and money spent on maintenance are greatly reduced because the transmission only requires periodic oil and filter changes.
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. 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: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; 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; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. 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.