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GM Allison Transmission to Supply Transmissions to China
PONTIAC, MICH. -- General Motors Corp. and the Chinese New Era Corp. have signed a contract for the purchase of transmissions produced in Szentgotthárd, Hungary, a the Allison Transmission division of GM. Under the terms of the contract, which has a value of $10 million, Allison will provide transmissions this year to Chinese New Era Corp.A separate letter of intent covers the possible purchase of additional Allison transmissions next year and through 2008. Allison began production at the Szentgotthárd facility in October 2000.The transmissions will be used in Chinese commercial vehicle markets, including public transportation, in anticipation of the 2008 Olympics. Allison Transmission, part of General Motors since 1929, designs and manufactures commercial-duty automatic transmissions for trucks, buses, off-road and military vehicles.Visit Allison Transmission: www.allisontransmission.com"