Chrysler Group for Sale
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Chrysler Group for Sale
During a presentation to analysts and journalists last Wednesday, DaimlerChrysler CFO Bodo Uebber refused to rule out the sale or spinoff of its unprofitable Chrysler group, Automotive News and the New York Times reported.
“We don't exclude anything here,” including structural changes,” Uebber said during his third-quarter earnings teleconference. “We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions,” Automotive News reported.
Chrysler group losses dragged down DaimlerChrysler's third-quarter financial results. The Chrysler group lost $1.47 billion, down from a $393 million profit for the same period a year ago, according to AN.
The company predicts Chrysler will lose $1.2 billion in 2006. DaimlerChrysler posted quarterly net income of $680 million and projects a companywide operating-profit target of $6.29 billion for the full year, AN said.
DaimlerChrysler has assigned a team of senior executives to study seven major facets of the Chrysler group's business. The teams have been asked to improve margins by $1,000 per vehicle. Officials declined to give a timetable for the internal study, AN reported. L&MT
“We don't exclude anything here,” including structural changes,” Uebber said during his third-quarter earnings teleconference. “We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions,” Automotive News reported.
Chrysler group losses dragged down DaimlerChrysler's third-quarter financial results. The Chrysler group lost $1.47 billion, down from a $393 million profit for the same period a year ago, according to AN.
The company predicts Chrysler will lose $1.2 billion in 2006. DaimlerChrysler posted quarterly net income of $680 million and projects a companywide operating-profit target of $6.29 billion for the full year, AN said.
DaimlerChrysler has assigned a team of senior executives to study seven major facets of the Chrysler group's business. The teams have been asked to improve margins by $1,000 per vehicle. Officials declined to give a timetable for the internal study, AN reported. L&MT
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Looks like they will grow instead......
Friday December 1, 2006
DaimlerChrysler to take stake in China truck company
SHANGHAI: DaimlerChrysler, the world’s top truck maker, is to pay 817mil yuan (US$104mil) for a stake in Chinese truck manufacturer Foton, as it looks to expand in the world’s fastest growing major market.
The German-US auto giant will take a 24% stake in Beiqi Foton Motor Co by buying 297 million new A-shares in the company, becoming its second biggest shareholder, the Chinese firm said yesterday.
DaimlerChrysler is paying 2.75 yuan per share, a 24% discount to Foton’s close on the Shanghai Stock Exchange on Nov 21, when the shares were suspended.
DaimlerChrysler, the world’s No. 5 car maker, already produces MercedesBenz luxury cars and other car models in a joint venture with Foton’s parent, Beijing Automotive Industry Holding, and has two other ventures in China, making multipurpose vehicles and high end buses. – Reuters
DaimlerChrysler to take stake in China truck company
SHANGHAI: DaimlerChrysler, the world’s top truck maker, is to pay 817mil yuan (US$104mil) for a stake in Chinese truck manufacturer Foton, as it looks to expand in the world’s fastest growing major market.
The German-US auto giant will take a 24% stake in Beiqi Foton Motor Co by buying 297 million new A-shares in the company, becoming its second biggest shareholder, the Chinese firm said yesterday.
DaimlerChrysler is paying 2.75 yuan per share, a 24% discount to Foton’s close on the Shanghai Stock Exchange on Nov 21, when the shares were suspended.
DaimlerChrysler, the world’s No. 5 car maker, already produces MercedesBenz luxury cars and other car models in a joint venture with Foton’s parent, Beijing Automotive Industry Holding, and has two other ventures in China, making multipurpose vehicles and high end buses. – Reuters
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Friday December 1, 2006
DaimlerChrysler to take stake in China truck company
SHANGHAI: DaimlerChrysler, the world’s top truck maker, is to pay 817mil yuan (US$104mil) for a stake in Chinese truck manufacturer Foton, as it looks to expand in the world’s fastest growing major market.
The German-US auto giant will take a 24% stake in Beiqi Foton Motor Co by buying 297 million new A-shares in the company, becoming its second biggest shareholder, the Chinese firm said yesterday.
DaimlerChrysler is paying 2.75 yuan per share, a 24% discount to Foton’s close on the Shanghai Stock Exchange on Nov 21, when the shares were suspended.
DaimlerChrysler, the world’s No. 5 car maker, already produces MercedesBenz luxury cars and other car models in a joint venture with Foton’s parent, Beijing Automotive Industry Holding, and has two other ventures in China, making multipurpose vehicles and high end buses. – Reuters
DaimlerChrysler to take stake in China truck company
SHANGHAI: DaimlerChrysler, the world’s top truck maker, is to pay 817mil yuan (US$104mil) for a stake in Chinese truck manufacturer Foton, as it looks to expand in the world’s fastest growing major market.
The German-US auto giant will take a 24% stake in Beiqi Foton Motor Co by buying 297 million new A-shares in the company, becoming its second biggest shareholder, the Chinese firm said yesterday.
DaimlerChrysler is paying 2.75 yuan per share, a 24% discount to Foton’s close on the Shanghai Stock Exchange on Nov 21, when the shares were suspended.
DaimlerChrysler, the world’s No. 5 car maker, already produces MercedesBenz luxury cars and other car models in a joint venture with Foton’s parent, Beijing Automotive Industry Holding, and has two other ventures in China, making multipurpose vehicles and high end buses. – Reuters
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