New Process Gear Snapshot
"Woa, change, change, change;" lyrics by the Doors are taken to heart at New Process Gear (NPG). Owned by a series of OEMs, NPG manufactures transfer cases for four-wheel drive systems, and other drivetrain products. Magna bought NPG (formerly New Venture Gear) from DaimlerChrysler in 2004. The deal, including a plants in Syracuse, New York and Roitzsch, Germany, and a leased R&D center in Troy, Michigan, gave Magna an 80% stake and DaimlerChrysler (now Chrysler) 20%. Magna acquired the remainder in 2007, save the Syracuse plant, which Chrysler leased to Magna. Since 2004, owner woes have forced NPG to cut headcount and wind down operations. In 2010 Chrysler agreed to sell its plant to Manchester Plymouth.