Allison Transmission recently announced that it has accomplished the acquisition of India-based AVTEC Ltd.’s off-highway transmission portfolio (HTP) and AVTEC’s Madras Export Processing Zone (MEPZ) off-highway component machining business (CMB). The deal, which was first announced on September 16, 2021, has officially closed as of March 30th, 2022.
Todd Bradford, VP, Strategy, Business, and Corporate Development at Allison Transmission stated: “This acquisition will position Allison’s product portfolio for strategic growth in the off-highway segment in India and other global markets that demand purpose-built products that deliver unrivaled performance, durability, reliability, and productivity.”
Allison claimed to have acquired AVTEC’s off-highway transmission portfolio and MEPZ off-highway component machining assets for $23 million in cash. Headquartered in New Delhi and part of the CK Birla Group, AVTEC is claimed to be one of India’s largest independent manufacturers of powertrain and precision-engineered products for automotive, off-highway, defense, agriculture, and railway industries, in areas of both proprietary products and contract manufacturing.
With this acquisition, Allison also stated that it 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.