eBay.fr: "Démultiplicateur"

one-eyed_jim

Old School Grand Master
This is a new one on me:

http://cgi.ebay.fr/demultiplicateur-de- ... 0541631817

It appears to be a bottom-bracket mounted gearbox in the Schlumpf vein, but I've no idea how it operates or who made it. The cranks and rings are obviously TA. Any ideas?

If it's just a step-down gearbox, the ratios mentioned would give the equivalent of 50t and 38t with the chainrings as supplied.
 
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