Allison Transmission signs $27M deal to acquire AVTEC's off-highway transmission portfolio

Allison Transmission Holdings Inc

Allison to pay ~$27M cash for AVTEC’s off-highway transmission portfolio and MEPZ component machining assets.
Acquisition includes intellectual property and integrates MEPZ operations into Allison's Chennai plant.
Transaction expected to close by end of 2021, subject to customary conditions.
Allison does not expect a material impact on current fiscal year earnings from the deal.
Deal accelerates Allison's off-highway opportunities in India and global markets.

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