Magna International Inc. said yesterday it is in discussions with
DaimlerChrysler AG concerning the possible sale to Magna of a controlling interest in New Venture Gear, which has plants in Syracuse, N.Y., and Germany. The unit makes drive train systems and had sales of about $1.4-billion in 2002. The deal will involve Magna owning 68 per cent of a joint venture, while DaimlerChrysler will hold the rest, The Globe and Mail reported in September, quoting union and industry sources.