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.
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