Market Overview

Allison Transmission Buys Walker Die Casting And C&R Tool and Engineering For $103M

Share:

Allison Transmission Holdings Inc. (NYSE: 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.

Related Links:

Genesco Reports Mixed Q2 Earnings, Raises Guidance

Meredith Corporation Reports Q4 Earnings Beat

Posted-In: M&A News

 

Related Articles (ALSN)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

30 Stocks Moving in Monday's Pre-Market Session

Alcoa To Consolidate Sales, Procurement And Commercial Operations, Cuts Staff