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Allison Transmission Signs Agreement To Acquire AVTEC
By Bhushan Mhapralkar| Sep 17, 2021

Allison Transmission Signs Agreement To Acquire AVTEC

Allison Transmission has signed an asset purchase agreement to acquire the transmission portfolio of India-based AVTEC Ltd's off-highway business and AVTEC’s Madras Export Processing Zone (MEPZ) off-highway component machining business.
AVTEC is one of India’s largest independent manufacturers of powertrain and precision-engineered products for automotive, off-highway, defense, agriculture and railway industry, in areas of both proprietary products and contract manufacturing.
John Coll, Senior Vice President, Global Marketing, Sales and Service at Allison Transmission, expressed, “The acquisition of the transmission portfolio of AVTEC’s off-highway business and associated IP will accelerate Allison’s pursuit of additional opportunities in these segments in India and global markets with purpose-built products that deliver performance and productivity to our customers.” With this acquisition, Allison will also integrate AVTEC’s off-highway component machining operations currently located at the MEPZ facility (Chennai) into Allison’s Chennai manufacturing plant to continue producing housings for Allison’s off-highway transmissions.
“This acquisition supports our overarching sourcing and operations strategies,” said Mike Dick, Senior Vice President of Operations and Global Purchasing at Allison Transmission. Allison will pay approximately USD 27 million in cash for AVTEC’s off-highway transmission portfolio and MEPZ off-highway component machining assets.
 

 

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