Allison Transmission, is planning new product development and global business growth as it moves forward under new owners, The Carlyle Group and Onex Corp.
Allison's transfer of ownership from General Motors
to The Carlyle Group and Onex has been completed successfully, with a smooth transition for Allison's customers and other stakeholders.
Larry Dewey, chief executive officer for Allison Transmission, said having experienced a record year for global transmission sales in 2006, generating annual revenue in excess of $2.3 billion, Allison is successfully expanding into new territories and vocations, notably global buses, distribution and construction. Under the new owners, this growth is expected to accelerate.
"We're excited about our future with The Carlyle Group and Onex Corp., which includes plans for new products, market expansion and further global growth across the breadth of our business sectors."