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GM to Sell Allison Transmission; Two-Mode Facility Stays with GM
28 June 2007
General Motors will sell its Allison Transmission commercial and military business to The Carlyle Group and Onex Corporation for approximately $5.6 billion.
The sale agreement covers substantially all of Allison Transmission, including seven manufacturing facilities in Indianapolis, Ind. and its worldwide distribution network and sales offices.
The production facility in Baltimore, Md., which is dedicated to the production of conventional and hybrid two-mode transmissions used in GM’s retail pick-up trucks and SUVs, will remain with GM.
June 28, 2007 in Brief | Permalink | Comments (3) | TrackBack (0)
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Comments
At least there is a sliver of foresight at GM.
Posted by: allen_xl_z | Jun 28, 2007 9:09:47 AM
Well I knew they would do that sort of thing sooner or later. As they plan to agressively transition to e drives later on they wont need new transmissions anymore. They likely finished up the last newdesigns. or plan to buy future designs from elsewhere.
Posted by: wintermane | Jun 28, 2007 9:31:50 AM
The Carlyle Group is an unusual organization . Look them up. They bought a company I worked for, Sealand(container ships) , from CSX(trains). They sold it a short time later for twice what hey paid for it! They did nothing to improve the company while they owned it I can remember. Carlyle sold to a foreign company that in the old days would not have been allowed to own US ships. The government approved the sale with a few provisions, all of which were worked around later.
The CEO of CSX was Snow at the time of the sale , shortly after he became Sect of Commerce.
It looks to me like the oil companies using Carlyle, bailing out their boys...
Posted by: joe padula | Jun 28, 2007 10:12:53 PM
