AVL Holding GmbH, an Austria-based company engaged in development, simulation and testing technology of powertrains for passenger cars, trucks and large engines, announced today that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK.

NTC 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.

It 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, AVL's statement said.

"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," according to Helmut List, chief executive of AVL List.

NTC Powertrain chief Richard Tamba said "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," Mr Tamba said.