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Allison Transmission Holdings Inc., the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, announced it acquired the assets and certain liabilities of Walker Die Casting, Lewisburg, Tenn., and C&R Tool and Engineering, Muscle Shoals, Ala.
Allison paid about $103 million in cash for the Walker Die Casting and C&R Tool and Engineering assets. Allison does not expect the acquisitions to have a material impact on current fiscal year earnings, according to the Indianapolis-based company.
Walker, a producer of aluminum castings, has been a supplier to Allison for 20 years and supplies essential components for its core on-highway transmission products. C&R Tool and Engineering is a leading supplier of metal working tools for use at Walker and other companies.
Walker Die Casting and C&R Tool and Engineering will be run as Allison Transmission plants and continue to operate in their respective locations. Walker Die Casting is the second-largest employer in Lewisburg, employing several hundred people.
Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has about 1,400 independent distributor and dealer locations worldwide. — Transport Topics