Allison Transmission Holdings Inc. ALSN has acquired the assets and certain liabilities of Walker Die Casting located in Lewisburg, Tennessee and C&R Tool and Engineering located in Muscle Shoals, Alabama for $103 million in cash for both businesses.
Walker produces aluminum castings and has been a supplier to Allison for 20 years. C&R Tool and Engineering is a supplier of metal working tools 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 CEO David 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 run as Allison Transmission plants and continue to operate in their respective locations.
Allison Transmission shares closed last week at $44.97. The stock has a 52-week high of $53.76 and a 52-week low of $40.35.
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