General Motors Corp. said Thursday that it may sell its Allison Transmission division as part of its effort to raise money and focus on its core business.
GM said in a news release that "it is looking at strategic options" for the Indianapolis-based transmission unit "including a potential sale of the business."
The world's leading automaker lost $3.05 billion in the first three quarters of 2006.
Allison Transmission has 3,400 employees and seven plants in Indianapolis. It makes and sells automatic transmissions for commercial and military vehicles.
"This process is another potential step in GM's plan to improve liquidity through the assessment of strategic options for a business that is not central to GM's mission of designing, manufacturing and selling cars and light trucks globally," the company said.
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