GM completes Allison Transmission transition

GM has announced that it has completed the sale of its Allison Transmission business. The commercial and military transmission part of the company was sold to The Carlyle Group and Onex Corporation for about $5.6 billion. That should keep them in the black for a bit longer. The sale includes the seven manufacturing centers throughout Indianapolis, along with the company's sales offices and worldwide distribution complex. GM will retain its Baltimore plant to produce both regular and hybrid two-mode transmissions for its trucks and SUVs. If all goes as expected, GM will use the funds from the sale to bolster R&D into new products and technology, including alternative energy sources.

[Source: GM]

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