Walker Die Casting acquired by Allison Transmission for $103 million
Category: #business  By Saipriya Iyer  Date: 2019-09-10
  • share
  • Twitter
  • Facebook
  • LinkedIn
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

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

Read More >>

More News By Saipriya Iyer

Chubb launches new Chubb Studio platform for its partners and clients
Chubb launches new Chubb Studio platform for its partners and clients
By Saipriya Iyer

Chubb, a renowned leading insurance provider, has reportedly announced the launch of Chubb Studio, a new platform that would streamline and simplify the circulation of its insurance products from its partners’ digital channels spread across the...

Omega Geracao acquires 50% wind portfolio of EDF Renewables in Brazil
Omega Geracao acquires 50% wind portfolio of EDF Renewables in Brazil
By Saipriya Iyer

Omega Geracao, a renowned Brazil-based power company, has reportedly announced that it has signed a definitive agreement to procure a 50% stake in French renewables company EDF Renewables’ wind farms located in Bahia, Brazil. The wind turbines...

Zoom soon to arrive on Facebook, Amazon, and Google smart displays
Zoom soon to arrive on Facebook, Amazon, and Google smart displays
By Saipriya Iyer

Zoom, a California-based video communications technology company, has reportedly announced that the app would soon be available on Amazon, Google smart display, and Facebook. The company further stated that it would make their initial entrance onto F...