General Dynamics purchases AxleTech International

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Falls Church defense contractor General Dynamics has announced completion of its purchase of vehicle parts manufacturer AxleTech International.

General Dynamics purchased the company from the Carlyle Group, a private equity firm in Washington, D.C. Terms were not disclosed.

The deal is the latest in a long line of acquisitions for General Dynamics. Virginia Business named its CEO, Nicholas Chabraja, the 2008 Business Person of the Year.

Troy, Mich.-based AxleTech includes 1,000 workers who manufacture vehicle parts for commercial, construction and military purposes.

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