Transportation Industry
GM Completes Sale of Allison Transmission
Transport Topics, August, 2007 by Anonymous
General Motors Corp. said it has completed the sale of its Allison Transmission commercial and military business to The Carlyle Group and Onex Corp. for $5.6 billion.
The sale, announced in June, includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. A production facility in Baltimore, which produces conventional and hybrid transmissions, will remain with GM.
Allison designs and builds commercial-duty automatic transmissions, hybrid propulsion systems and parts for trucks and buses, off-highway equipment and military vehicles. The company boasts an 80% market snare of all medium- and heavy-duty commercial transmissions, with annual revenue of more than $2 billion.
The Carlyle Group, Washington, D. C, is a private...
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