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AVL announces acquisition of NTC Powertrain.

M2 EQUITYBITES-1 September 2010-AVL announces acquisition of NTC Powertrain(C)2010 M2 COMMUNICATIONS

AVL Holding GmbH announced today that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK. Financial details of the acquisition were not disclosed.

Upon completion of the transaction, NTC, which reportedly has a vast experience in the development of transmissions for the high volume passenger car market, will form a key part of the AVL Passenger Car Transmission division.

NTC will continue to operate from all of its current facilities and will be looking to further strengthen its team of experienced engineers.

AVL is an independent company for development, simulation and testing technology of powertrains (hybrid, combustion engines, transmission, electric drive, batteries and software) for passenger cars, trucks and large engines.

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Publication:M2 EquityBites (EQB)
Date:Sep 1, 2010
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