Technology firm bags £3.75m
Leyland technology firm Torotrak has landed a £3.75m payment as part of licensing agreement with an American giant, Allison Technology.
The firm, which has its head office on Aston Way in the South Ribble town, bagged the cash as part of a deal which sees the US firm have rights over a revolutionary gearbox design.
Torotrak has now bagged 8.44m through the partnership with Allison, which it announced last year, and could land between 6.75m and 17.4m over the next three years.
Allison has an option on exclusive rights on the full-toroidal traction drive technology in the medium-sized commercial vehicle market.
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Wednesday 23 May 2012
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