Bmw Transfers 50% participation Chrysler German carmaker Bavarian Motor Works (BMW) announced Thursday that it has transferred its 50 per cent in Brazilian engine joint venture Tritec Motors Limitada to DaimlerChrysler's Chrysler Group division.
As for the agreement, which requires regulatory approval, BMW did not give financial details.
In a statement, the automaker said the Chrysler Group has assumed the responsibility for exploring long term options for the Tritec operations. Thus, all possible alternatives for continuing the business for the long term are being analyzed and evaluated. The sale may include a facility to third.
Tritec, established in 1997, produced 1.4 and 1.6 liter gasoline engine with four cylinders of the BMW Mini and some Chrysler models. In January 2000, its large-scale production began. The statement said that the capacity of the plant's annual production of nearly 250,000 units.
A BMW spokesman said the company would replace the motors with those made through its alliance with the French engine manufacturer PSA.
About BMW
With concerns of the automobile, the BMW Group is composed of the development, production and sale of motor vehicles and motorcycles. It is also in financial services.
The BMW Group is the only automaker in the world to adopt a purely premium for all sectors covered by the contract of its brands, exclusive smaller cars to luxury limousines luxury. His car brands BMW, MINI and Rolls-Royce Motor Cars. The group also manufactures BMW 318i parts .
As for motorcycles, BMW also uses "premium" as the keyword. The Group's strategy is to develop and build the best bikes, set standards in technology, environmental protection and safety, and provide exceptional customer service in the pre-and post-sales phases .
The group also sees financial services as a key success factor in today's mobile world. It provides financing and leasing, asset management, financing and dealer services company carpool.
other business interests include insurance (Bavaria Wirtschaftsagentur GmbH), consulting and systems integration (Softlab GmbH).
About Chrysler Group
Chrysler is an American car manufacturer. It has been independently producing automobiles since 1925. Chrysler and its subsidiaries are part of DaimlerChrysler AG's German base from 1998 to 2007 after a heavy agreement known as a "merger of equals" with Daimler-Benz in 1998. Before 1998, Chrysler Corporation traded in the automotive industry under "C" symbol on the NYSE. Its U.S. operations are generally referred to today as the Chrysler Group. Mopar is another popular term for all Chrysler cars. It is actually the name of its operating rooms.
On May 14, 2007 DaimlerChrysler AG announced the sale of 80.1 percent of Chrysler Group to Cerberus Capital Management LP, a U.S. company. When the transaction is completed, Chrysler will have on the name Chrysler Holding LLC.
Posted on May 16, 2010.
