INDIANAPOLIS – Jan. 20, 2015 – Allison Transmission Holdings Inc. (NYSE: ALSN) today announced that it will celebrate its centennial throughout 2015 with a variety of special events and activities.
"Both our company and its founder have incredibly rich, storied histories," said Lawrence E. Dewey, chairman, president and CEO of Allison Transmission. "We look forward to sharing our heritage on a global scale this year with employees, business partners and the communities in which we conduct business.”
Allison traces its corporate lineage back to the founding of the Indianapolis Speedway Team Co. on Sep. 14, 1915. As a co-founder of the Indianapolis Motor Speedway and part owner of several racing teams, James A. Allison, a prominent entrepreneur, innovator and businessman, established a precision machine shop and experimental firm on Main Street in Speedway called the Allison Experimental Co. to support his racing endeavors.
“Our company was founded on the values of innovation, quality and reliability,” said Dewey. “Although 100 years have passed, I’m very proud to say those remain our driving values today. With our products and services, we are improving the way the world works.”
Today, Allison Transmission is the world's largest manufacturer of fully automatic commercial-duty transmissions and a leader in hybrid-propulsion systems. With approximately 2,700 employees and a market presence in more than 80 countries, including manufacturing facilities in the U.S., Hungary and India, the company has annual revenue of $2 billion.
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.