Purchase and Division
The company was purchased in 1964 by the Worthington Corporation, which merged with the Studebaker corporation in 1967 to form Studebaker-Worthington, Inc. (SWI), Alco remaining a wholly owned subsidiary. Former divisions of Alco became semi-independent subsidiaries in 1968.
After the termination of locomotive production in 1969, the locomotive designs (but not the engine development rights) were transferred to the Montreal Locomotive Works, who continued their manufacture. The diesel engine business was sold to White Motor Corporation in 1970, who formed them into White Industrial Power. In 1977 White Industrial Power was sold to the British The General Electric Company plc (GEC) who renamed the unit Alco Power, Inc. The business was subsequently sold to the Fairbanks-Morse corporation, who continue to manufacture Alco-designed engines in addition to their own design.
The heat exchanger business continued as Alco Products, Inc. for a time. At some later point, some of the heat exchanger products were manufactured by the Alco Products Division of Smithco Engineering, Inc. in Tulsa, Oklahoma (Smithco). In January 1983, certain assets of the Alco Products Division of Smithco, namely double-pipe and hairpin-type heat exchanger products sold under the "Alco Twin" name, mark and style were sold in an asset sale by Smithco to Bos-Hatten, Inc., a subsidiary of Nitram Energy, Inc. (Nitram). Following the sale of these assets Smithco remained in business, manufacturing other heat exchange products. In 1985, the assets acquired from Smithco were assigned by Bos-Hatten, Inc. to its parent, Nitram. Nitram manufactures "Alco Twin" double-pipe and hairpin-type heat exchangers through Nitram's unincorporated Alco Products Division.
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