Walker Die Casting is a long-time supplier of aluminium transmission castings critical in the production of Allison Transmission’s products
Allison Transmission Holdings Inc., one of the largest global manufacturers of medium and heavy-duty fully automatic transmissions, announced that it has acquired the assets and certain liabilities of Walker Die Casting located in Lewisburg, Tennessee as well as C and R Tool and Engineering located in Muscle Shoals, Alabama. “We are delighted to announce the acquisitions of Walker Die Casting and C and R Tool and Engineering,” said Allison Transmission President and CEO David Graziosi. “Walker Die Casting’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,” he added.
Walker Die Casting produces aluminium castings and has been a supplier to Allison Transmission for 20 years. The Walker family sought a buyer for the business, allowing Allison Transmission to purchase the assets of the company that supplies essential components for its core on-highway transmission products. Allison Transmission is committed to continuing the 60-year-old company’s legacy. C and R Tool and Engineering is a leading supplier of metalworking tools for use at Walker Die Casting and other companies. Both the acquired companies will be run as Allison Transmission plants and continue to operate at their respective locations.
Walker Die Casting’s Lewisburg facility produces castings for various automobile parts, commercial vehicle parts, and outboard motor parts for customers throughout the United States and in various foreign countries. “While it is always hard to let go of the business you built, we are proud that it will remain in good hands with Allison Transmission,” said John Walker, President, Walker Die Casting.
Allison Transmission paid approximately $103 million in cash for the assets of both the companies. It does not expect the acquisitions to have a material impact on current fiscal year earnings, a company’s press release said.