Allison Transmission Holdings Inc., the largest global manufacturer of medium-and heavy-duty fully automatic transmissions, has acquired Walker Die Casting and C&R Tool and Engineering in a deal worth approximately $103 million.
Walker Die Casting, located in Lewisburg, Tennessee, produces high-quality aluminium die castings for various automobile parts, commercial vehicle parts and outboard motor parts for customers throughout the United States and in various foreign countries. Walker has been a supplier to Allison for 20 years.
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C&R Tool and Engineering, located in Muscle Shoals, Alabama, produces die cast dies and tooling using the latest technology and processes. The company supplies its products for use at Walker and other companies.
“We are delighted to announce the acquisitions of Walker Die Casting and C&R Tool and Engineering,” said Allison Transmission President and CEO David S. Graziosi. “Walker’s products are a critical component in the manufacture and quality of our on-highway transmissions. We plan to grow the business and continue the heritage established by Robert Walker in 1958.”
Walker Die Casting and C&R Tool and Engineering will be run as Allison Transmission plants.
John Walker, Walker Die Casting President and son of the founder said: “While it is always hard to let go of the business you built, we are proud that it will remain in good hands with Allison Transmission.”
Allison does not expect the acquisitions to have a material impact on current fiscal year earnings.
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