Updated 11/6/19

Assets of Lewisburg’s Walker Die Casting, the region’s second largest employer, have been acquired by a manufacturer that touts itself as the largest global manufacturer of medium and heavy fully automatic transmissions.

Assets have been acquired by Indiana-based Allison Transmission Holdings, a manufacturer that touts itself as the largest global manufacturer of medium and heavy fully automatic transmissions.

In a similar deal, the Indiana based company has also acquired portions of C&R Tool and Engineering located in Muscle Shoals.

Allison says it paid approximately $103 million in cash for the assets of both Southeastern business.

Walker Die Casting, which produces aluminum castings, has been a supplier to Allison for 20 years. Allison says it has purchased the assets of the company that supplies essential components for its core on-highway transmission products.

Allison paid approximately $103 million in cash for the assets of both Southeastern business

Walker is the second-largest employer in Lewisburg.