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Business/Financial

GD To Acquire Heavy Duty Vehicle Components Supplier AxleTech

DDN

Thursday, November 20th, 2008

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General Dynamics [GD] yesterday said it has agreed to acquire AxleTech International, a global manufacturer and supplier of highly engineered axles, wheel ends, brakes and gears for heavy-duty military and commercial vehicles. Terms of the deal, which is slated to close by year-end, were not disclosed. GD said the purchase would be immediately accretive to its earnings. Michigan-based AxleTech, which is being acquired from the private equity firm The Carlyle Group, will become part of GD's Armament and Technical Products…

Congress

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