Allison Transmission to acquire the transmission portfolio of AVTEC for $27m.

Allison Transmission, an American manufacturer of commercial duty automatic transmissions and hybrid propulsion systems, agreed to acquire the transmission portfolio of AVTEC, the largest automotive transmission and powertrain components manufacturers in India, for $27m. “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,” John Coll, Allison Transmission Senior Vice President, Global Marketing, Sales and Service.