Thursday, June 28, 2007
GM SELLING ALLISON TRANSMISSION
Thursday, June 28, 2007
General Motors Corp. said Thursday (June 28) it has agreed to sell its Allison Transmission commercial and military business – which includes transmissions built for the RV industry – for about $5.6 billion to the private equity firm The Carlyle Group and Canada's Onex Corp.
The Associated Press reported that the deal is part of an effort by GM to raise money and focus on its core business. It has been losing ground in North America to Asian automakers.
GM had said in January it was considering a sale of Allison.
The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices.
A production facility in Baltimore, which produces conventional and hybrid transmissions for pickup trucks and sport utility vehicles, will remain with GM.
The Detroit-based automaker said the deal is expected to close as early as the third quarter pending union and regulatory approval.
"This is another important step to strengthen our liquidity and provide resources to support our heavy investments in new products and technology," GM Chairman and Chief Executive Officer Rick Wagoner said in Thursday's statement.
"At the same time, this sale will position Allison for growth with strong partners in Carlyle and Onex, which have well-established track records of working effectively with their management teams, unions and employees."
The Carlyle Group is a Washington, D.C.-based private equity firm. Onex Corp. is a Toronto-based investment conglomerate.
Tuesday, June 26, 2007
ALFA / GOLD 2007
Manufacturer : ALFA LEISURE,INC.
NHTSA CAMPAIGN ID Number : 07V251000 Mfr's Report Date : MAY 23, 2007
Component: EQUIPMENT:RECREATIONAL VEHICLE
Potential Number Of Units Affected : 53
ON CERTAIN FIFTH WHEEL TRAILERS AND MOTOR HOMES EQUIPPED WITH ATWOOD SEALED BURNER RANGES, THE RANGE AND SLIDE-IN BURNER TUBES LEADING FROM THE GAS MANIFOLD TO THE BURNER HEADS HAD A DEPRESSION OR 'KINK' IN THE EXTERIOR BEND RESTRICTING PROPER AIRFLOW AND GAS MIXTURE.
THIS CONDITION COULD RESULT IN CARBON MONOXIDE POISONING.
ALFA LEISURE IS WORKING WITH ATWOOD TO HAVE THE TUBES REPLACED ON THESE RANGES, THE MANUFACTURER HAS NOT YET PROVIDED AN OWNER NOTIFICATION SCHEDULE FOR THIS CAMPAIGN. OWNERS MAY CONTACT ATWOOD AT 1-800-348-7418 OR ALFA LEISURE AT 1-909-628-5574.
ALFA LEISURE RECALL NO. 0137. CUSTOMERS MAY CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION'S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY: 1-800-424-9153); OR GO TO HTTP://WWW.SAFERCAR.GOV.
COUNTRY COACH / ALLURE 2006-2007
COUNTRY COACH / INTRIGUE 2006
Manufacturer : COUNTRY COACH INC
NHTSA CAMPAIGN ID Number : 07V239000 Mfr's Report Date : JUN 04, 2007
Component: STEERING:LINKAGES:TIE ROD ASSEMBLY
Potential Number Of Units Affected : 86
ON CERTAIN MOTOR HOMES BUILT WITH CUMMINS ISL CM850 DIESEL ENGINES, THE CONNECTING ROD CONTAINS A MACHINING DEFECT IN THE WRIST PIN BUSHING OF THE ROD THAT COULD CAUSE A SEIZURE OF THE PISTON PIN.
IF ALLOWED TO PROGRESS, THIS CAN LEAD TO ENGINE FAILURE WITH THE POSSIBILITY OF THE ROD RUPTURING THE LOCK CAVITY, OIL AND DEBRIS ON THE ROADWAY AND VEHICLE CRASH.
COUNTRY COACH IS WORKING WITH CUMMINS TO RECALIBRATE THE ENGINE CONTROL MODULE AND ENHANCE THE ENGINE PROTECTION SYSTEM ENABLING IT TO PROVIDE EARLY DETECTION OF THE FAILURE MODE AND AVOID MORE SERIOUS ENGINE DAMAGE AND RESULTANT SAFETY HAZARD. CUMMINS WILL ALSO INSTALL A NEW VALVE COVER WITH A CRANKCASE PRESSURE SENSOR FREE OF CHARGE (PLEASE SEE 07E033). OWNERS MAY CONTACT CUMMINS AT 800-343-7357 OR COUNTRY COACH AT 1-541-998-3720.
CUSTOMERS MAY CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY: 1-800-424-9153); OR GO TO HTTP://WWW.SAFERCAR.GOV.