Allison Transmission Awarded $83.3 Million Contract to Support U.S. Army Abrams Tank Modernization and Tank Production for Abrams User Nations
Abrams sales expanding in the Asia Pacific and Eastern European markets.
INDIANAPOLIS, January 18, 2024 – Allison Transmission, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, received an $83.3 million contract to provide upgraded
and new X1100 transmissions supporting Abrams Main Battle Tank variants used by the U.S. Army and Foreign Military Sales customers.
“Allison is proud to be part of the world’s premier main battle tank supporting the U.S. Army and our close partners. We look forward to continued support of these customers in the decades to come,” said Dana Pittard, Vice President for Defense Programs
at Allison Transmission.
Allison will deliver upgraded and new transmissions to meet performance demands of the Abrams tank. The Allison upgrade program combines new content with existing customer hardware to provide a zero-mileage transmission to support the Abrams System Enhancement
Package version 3 tanks at significant customer savings. Deliveries under this contract begin in January 2024 and continue through December 2024.
The Abrams tank has seen numerous upgrades and enhancements that provide the crew with the world’s most capable tank. Allison quality and reliability commitments readily support U.S. Army readiness objectives and performance demands while developing innovative
new capabilities to meet evolving warfighter demands.
Allison has a long history of support to the U.S. Army. This contract continues the Allison long-term relationship built on quality, reliability and commitment to the warfighter.
18 Jan, 2024
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified
propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach),
motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more
than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis,
Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
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.