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PressClub USA · Article.
BMW GROUP TRANSFERS SHARES IN TRITEC TO DAIMLERCHRYSLER
Fri Jul 13 22:45:00 CEST 2007 Press Release
The BMW Group has transferred its shares in Tritec Motors Limitada to DaimlerChrysler's Chrysler Group effective as of July 11, 2007.
Auburn Hills/Munich. The BMW Group has transferred its shares in Tritec Motors
Limitada to DaimlerChrysler's Chrysler Group effective as of July 11, 2007. The
companies - who each held half of the shares in the Brazilian engine plant -
have agreed not to divulge the details of the transaction, which is subject to
administrative registration and regulatory approval. Chrysler Group has assumed
the responsibility for exploring long-term options for the Tritec operations
whereby all possible alternatives for continuing the business for the long run
are under analysis. This may include a sale of the facility to a third-party.
Tritec Motors was founded in 1997 by the BMW Group and the Chrysler Group for
the production of 1.4 and 1.6 litre four-cylinder petrol engines. The engine
plant is located in the town of Campo Largo in the region of Curitiba, in the
Federal State of Paraná, southern Brazil. Large-scale series production started
in January 2000; the plant's annual production capacity is around 250,000
units.
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