Trusted news and analysis about the original equipment auto industry


ADVERTISEMENT




ADVERTISEMENT


[an error occurred while processing this directive]


GM Drops Its Stake in New Venture Gear

Ward's AutoWorld, Feb 1, 2002 12:00 PM

New Venture Gear, the powertrain joint venture formed in 1990 between DaimlerChrysler Corp. and General Motors Corp., is being dissolved.

DCC, which had a 64% stake in the venture, will assume complete ownership of NVG. The operation will remain a separate company and continue to independently manage its business with GM and other customers. GM relinquishes its stake in NVG but will manage its plant in Muncie, IN, as an independent business. The facility had been part of the venture and makes transmissions, differentials, gears and other automotive components.

ADVERTISEMENT

NVG's principal operations now include its current Syracuse, NY, facility, which produces transfer cases, transaxles and other automotive components for DCC, GM and other customers. NVG also will continue to operate its Roitzsch facility in Germany, which is beginning production of transfer cases for various automotive customers. Management, engineering and development functions at the Troy, MI-based headquarters will be restructured as future plans are finalized.



© 2014 Penton Media, Inc. All rights reserved.

Contact Us Advertising Privacy Statement Terms of Use