Allison Transmission aims high after $600 million IPO in MarchSRC Member
May 8, 2012
An iconic Indiana manufacturer has entered a new chapter that should improve access to capital and help continue a move into new market segments. Allison Transmission Holdings Inc. (NYSE: ALSN) raised more than $600 million in a March initial public offering. Chief Executive Officer Larry Dewey says the funding should support plans to increase Allison’s presence in the short-haul and truck-hybrid markets. He sat down with Inside INdiana Business Gerry Dick for one of his first extended interviews following the IPO.
Dewey also says there is a solid future in so-called green transmission technologies. He says fuel efficiency and fuel economy amount to a “unifying theme” in some of the company’s most recent deals.
Allison employees approximately 2,000 in central Indiana.
In its first quarterly report since going public, the transmission manufacturing reported a profit of $58 million, up 57 percent from the same period a year earlier.
The company’s stock closed Friday at $19.50 per share, after opening during the March 15 IPO at $23.
Source: Inside INdiana Business