Allison Transmission acquisition

Allison Transmission India Pvt. Ltd. signed an asset purchase agreement to acquire the transmission portfolio of AVTEC’s off-highway business for an estimated Rs.200 crore (USD 27 mn) valuation. The acquisition of the transmission portfolio of AVTEC’s off-highway business and associated IP is expected to accelerate Allison’s pursuit of additional opportunities in India and global markets with purpose-built products, stated John Coll, Senior Vice President, Global Marketing,

Sales and Service at Allison Transmission. Subject to completion of certain conditions precedent and expected to be closed by the end of 2021, the acquisition also includes the AVTEC Madras Export Processing Zone (MEPZ) off-highway component machining business. It will pave the way for the integration of AVTEC’s off-highway component machining operations currently located at the MEPZ facility (Chennai) into Allison’s Chennai manufacturing plant.