Walker Die Casting acquired by Allison Transmission for $103 million
Category: #business  By Anchal Solanki  Date: 2019-09-10
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Walker Die Casting acquired by Allison Transmission for $103 million
  • Walker manufactures aluminum castings and has been a supplier of the same to Allison from last 20 years.
  • C&R Tool and Engineering and Walker Die Casting will operate as Allison Transmission plants and both companies will continue to operate out of their respective locations.

Allison Transmission Holdings Inc., world’s largest manufacturer of heavy and medium-duty fully automatic transmissions, reportedly announced the acquisition of certain liabilities and assets of Walker Die Casting situated in Lewisburg, Tennessee, and C&R Tool and Engineering situated in Muscle Shoals, Alabama.

David S. Graziosi, President and CEO of Allison Transmission Holdings stated that the company is pleased to announce the procurement of Walker Die Casting as well as C&R Tool and Engineering. David further added that Walker Die Casting’s products are an important component in the quality and manufacture of the company’s on-highway transmissions. The company plan to develop the business and continue the legacy established in 1958 by Robert Walker.

Walker manufactures aluminum castings and has been a supplier of the same to Allison from last 20 years. The Walker family searched a buyer for the business, which enabled Allison to acquire the assets and liabilities of the company which supplies vital components for its main on-highway transmissions. Allison is committed to continue the 60-year-old legacy of company.

Meanwhile, C&R Tool and Engineering is the leading metal working tools supplier for Walker and other firms. C&R Tool and Engineering and Walker Die Casting will operate as Allison Transmission plants and both companies will continue to operate out of their respective locations. Walker Die Casting employs several hundred individuals, which makes it the second-biggest ob provider in Lewisburg.

Allison purchased assets of C&R Tool and Engineering and Walker Die Casting for approximately $103 million in cash. Allison does anticipate the purchase to show any material impact on present financial year earnings.

Source Credit: https://finance.yahoo.com/news/allison-transmission-acquires-walker-die-111000519.html

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About Author

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

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