Allison Transmission Holdings Inc. announced it has acquired the assets and certain liabilities of Walker Die Casting, Lewisburg, Tenn. and C&R Tool and Engineering, Muscle Shoals, Ala.
Walker produces aluminum castings and has been a supplier to Allison for 20 years. Allison said the Walker family had sought a buyer for the business, allowing Allison to purchase the assets of the company that supplies essential components for its core on-highway transmission products. Allison is committed to continuing the 60-year-old company’s legacy.
C&R Tool and Engineering is a supplier of metal working tools for use at Walker and other companies.
Walker Die Casting and C&R Tool and Engineering will be run as Allison Transmission plants and continue to operate in their respective locations, the company said.
Allison paid approximately $103 million in cash for the Walker Die Casting and C&R Tool and Engineering assets. Allison does not expect the acquisitions to have a material impact on current fiscal year earnings.