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Jan. 8, 2009 / 12:42 PM

GD completes AxleTech purchase

FALLS CHURCH, Va., Jan. 8 (UPI) -- U.S. company General Dynamics has completed its announced purchase of the Carlyle Group's AxleTech International.

General Dynamics announced plans in November to acquire Michigan-based AxleTech International as part of a move to expand the company's reach in the axle market.

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AxleTech International, which manufactures axle systems for military and commercial applications, will become part of General Dynamics' Armaments and Technical Products business unit.

"AxleTech International opens doors to customer groups and markets that General Dynamics has not previously served," Mike Mulligan, General Dynamics Armaments and Technical Products president, said in a statement.

"We look forward to maintaining and strengthening the relationships that AxleTech International enjoys with its existing customers, and collaborating to create new products and pursue new markets together."

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