New Venture Gear (NVG), a powertrain joint venture owned 64% by DaimlerChrysler AG and 36% by General Motors Corp., now will be 100% owned by DC. Under terms of a definitive agreement between the two auto makers, the transaction is scheduled to be made in early 2003. However, NVG will remain a separate company and continue to independently manage its business with GM and other customers. GM will not have equity in NVG, but acquire 100% ownership of the former NVG manual transmission plant in ...
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