The CEO of Allison Transmission (ALSN) sees some slowing in its North America business, but believes weakness is some of its key markets may have bottomed. Allison is the world's largest manufacturer of automatic transmissions for commercial duty vehicles, such as buses, fire trucks, and utility vehicles. That's known as the 'on-highway market.' It also makes transmissions for 'off-highway' vehicles, which include equipment used in the mining and energy sectors. 'Certainly defense and off-highway is down pretty much to irreducible levels. So we feel that that has bottomed out,' said Larry Dewey, President and CEO of the company. Dewey said Allison has been seeking to gain share in markets outside the U.S., in places like Brazil and China. He said there has been some slowing in the Chinese market. TheStreet's Rhonda Schaffler has details from the floor of the NYSE.