AVL to Acquire NTC Powertrain

GRAZ, Austria, September 1, 2010 -- AVL Holding GmbH announced that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK. NTC has vast experience in the development of transmissions for the high volume passenger car market and will form a key part of the AVL Passenger Car Transmission division. Helmut List, CEO of AVL List: "The depth of experience, resources and capabilities of the combined AVL and NTC powertrain teams will further leverage advanced technology solutions for customers worldwide and will assist AVL to significantly expand the range of services provided to the global automotive market."

NTC Powertrain CEO Mr Richard Tamba stated "AVL and NTC share a common goal to bring high technology reliable designs to our customers with a focus on customer satisfaction and on time delivery of projects. Together AVL and NTC form the largest independent powertrain technology provider offering full technology solutions from analysis, through concept, design, testing and production implementation. NTC is honoured to have been invited to be part of the AVL family and we can now offer our combined services from facilities worldwide."

NTC Powertrain is best recognised for the role it played in the core development of Borg Warner's DualTronic technology and the design of the VW DQ250 during a 12 year exclusive retainer agreement that expired in February of this year. NTC has developed more than 12 DCT's and 5 Automatics that are currently in various stages of high volume production. NTC are also a provider of powertrain design and development services to the marine, military and mining industries. 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 the world's largest 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. The high-tech company AVL employs 4.300 people worldwide. Turnover in 2009 was 600 million Euro.

Contact

Michael Ksela, company spokesman for AVL, phone +43-1-523-4088, e-mail: michael.ksela@scoopnextlevel.com