Carlyle completes sale of US-based component manufacturer to General Dynamics

AxleTech International is a global manufacturer and supplier of axles, axle components, planetary axles, independent suspensions, brakes and aftermarket parts for military vehicles, commercial specialty trucks and off-highway machines. AxleTech International employs approximately 1,000 workers worldwide.

The company has become part of the General Dynamics Armaments and Technical Products business unit.

Mike Mulligan, president of General Dynamics Armament and Technical Products, said, 'AxleTech International opens doors to customer groups and markets that General Dynamics has not previously served. This is a well-run organisation with a seasoned management team and dedicated workforce. 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.'

Gregory S Ledford, Carlyle managing director, said, 'It has been a pleasure partnering with Mary Petrovich and her management team these past three years. We expect that AxleTech will have continued success in their new relationship with General Dynamics.'

Last month, Carlyle announced that it was cutting ten per cent of its workforce in a bid to save costs.

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