Allison Transmission (ALSN) to Acquire AVTEC’s Off-Highway Transmission Portfolio and Off-Highway Component Machining Business for $27M Cash
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Allison Transmission Signs Agreement to Acquire India-Based AVTEC’s Off-Highway Transmission Portfolio and Off-Highway Component Machining Business
September 16, 2021 8:30 AM EDTINDIANAPOLIS--(BUSINESS WIRE)-- Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, is pleased to announce that it has signed an asset purchase agreement to acquire the transmission portfolio of India-based AVTEC Ltd.s off-highway business and AVTECs Madras Export Processing Zone (MEPZ) off-highway component machining business.
Headquartered in New Delhi and part of the CK Birla Group, AVTEC is one of Indias largest independent manufacturers of powertrain and precision-engineered products for automotive, off-highway,... More
