Allison poised for growth under new ownership

TORONTO — Allison Transmission says new product development and global business growth will move the company forward under new owners, The Carlyle Group and Toronto-based Onex Corp.

Allison’s transfer of ownership from General Motors to The Carlyle Group and Onex was completed successfully this past summer, 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.

“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.”