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GM looking at selling medium-duty truck unit-CEO

From Reuters| June 06,2007

General Motors Corp. is considering restructuring and selling its medium-duty truck unit, Chief Executive Officer Rick Wagoner said on Tuesday.

A source familiar with the talks last month told Reuters that GM was in talks with Navistar International Corp. to sell the unit.

Wagoner told investors at the company's annual shareholder meeting in Wilmington, Delaware, that the automaker is also ''looking at offers'' to sell its Allison Transmission subsidiary.

GM earlier this year said it was considering strategic options for the Indianapolis-based division, which makes transmissions and hybrid propulsion systems for commercial trucks, buses and military vehicles.

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