Chrysler Corp and General Motors is looking to sell off New Venture Gear Inc, the worlds largest maker of four-wheel-drive transfer cases and other driveline parts. This continues the automakers drive to spin off assets not related to assembly. Chrysler owns 64 per cent of the company and GM the balance. New Venture employs more than 5,000 at plants in Syracuse, NY, and Muncie, Ind., and a small engineering centre in Germany. It recorded sales of $1.4 billion in 1997, making driveline and traction-control products for the two automakers.
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