Displaying items by tag: OEMs

Allison Transmission Declares Quarterly Dividend

INDIANAPOLIS — Allison Transmission Holdings, Inc. (NYSE: ALSN) announced today that its board of directors has declared a cash dividend of $0.15 per share on the company’s common stock for the fourth quarter of 2018. Payment will be made on Nov. 30, to stockholders of record at the close of business on Nov. 19.

Blue Bird Corp. Sets Mandatory Conversion of Convertible Preferred Stock

MACON, Ga. — Blue Bird Corp. (NASDAQ: BLBD) today announced the exercise of the company’s right to convert all outstanding shares of its 7.625 percent Convertible Cumulative Preferred Stock, Series A (“Series A Preferred Stock”) into shares of common stock, $0.0001 per share, of the company (“Common Stock”), subject to a beneficial ownership limitation. The limitation prohibits the company from effecting a conversion of Series A Preferred Stock to the extent that, after giving effect to such conversion, the holder of the Series A Preferred Stock would beneficially own in excess of 9.99 percent of the outstanding Common Stock (the “Beneficial Ownership Limitation”), unless such holder waives the limitation upon 65 days’ notice to the company.

Navistar, Technical Schools Address Garage Shortage

Amid a growing school bus and truck driver shortage nationwide, transportation garages are also suffering from a lack of skilled workers. Navistar announced a new partnership that addresses the skilled worker issue.

  • Published in News

Three at Cummins Receive SWE International Awards for STEM

MINNEAPOLIS — Cummins, Inc. (NYSE: CMI) announced today that the Society of Women Engineers (SWE) will recognize three Cummins employees as part of its annual awards program, on Friday, October 19. Ana Paula Marimoto, dynamic systems and controls technical leader; Anne McLaren, Cummins technical advisor, reliability engineer; and Paul Sowerby, executive director of global technical operations, are 2018 award recipients.

Navistar Repays $200 Million in Convertible Notes

LISLE, Ill. — Navistar International Corp. (NYSE: NAV) announced that the company has repaid in full its 4.5 percent Senior Subordinated Convertible Notes issued in October 2013. The repayment of the outstanding principal of $200 million at maturity on October 15, 2018, was funded with cash on hand.