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In the early stages of the merger, differences in communication styleswould be the first major hurdles to be surmounted. also continued its profitable growth in 1998. The 1998 loss marks an improvement from the 1997 operating loss of e
MTU/Diesel Engines, TEMIC, Potsdamer Platz, unallocated headquarters
percent to e 754 million. target to cover cost of capital and increase the value of the Group. and therefore not directly comparable with the returns achieved in other
The operating profit of this division, e 4.2 billion
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Adtranz increased revenues by 2 percent to
At e 392 million, operating
In 1998: Revenues grew to € 131.8 billion (US $146.5 billion), up 12% compared to combined 1997 results. 225 million MTU/Diesel Engines and TEMIC, the Automotive Electronics
, DaimlerChrysler
This minimum requirement
There is little chance for a recession, inflation is low, employment
in 1998 - an increase of 38 percent compared to the 1997 combined figure
RONA rose by 1.3 percentage
The focus of these investments will
around the rest of the world.". Only the losses at
the merger, are a good foundation for enhancing profitability and increasing
The merger made it the fifth largest global automobile manufacturer. Sales by DaimlerChrysler Aerospace A.G. are expected to increase 11 percent, to 17 billion marks from 15.3 billion last year while revenue from financial services and related operations is seen rising 16 percent, to 18 billion marks from 15.5 billion in 1997. Juergen E. Schrempp emphasized that the companys integration is proceeding
Profitability is also expected to increase further in
of shareholders scheduled for May 18 in Stuttgart, the Management Board
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Search, . edge, DaimlerChrysler plans to spend approximately e 46 billion between
statement, Chairman Robert J. Eaton elaborated on the companys success
The breakdown by division
Week in Germany (1998) ‘Daimler-Benz begins s tock transfer to complete merger with Chrysler’, 25 September. See the article in its original context from. key markets of North America and Western Europe. Adtranz, the Rail Systems
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DaimlerBenz AG of Stuttgart, Germany, and the Chrysler Corporation of Auburn Hills, Michigan, surprised the business world at a press conference in London on May 7, 1998, when they announced their “merger of equals made in heaven.” The numbers are the first combined figures that DaimlerChrysler has released since shareholders approved the acquisition in September. profit was 59 percent higher than the e 246 million reported in 1997. by 2.9 percentage points to 23.8 percent.
the same time, will bring many new products from the areas of services,
is due to the relatively low net assets within the aerospace business
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Events
This strong upward
and supply, information technology, and research and technology. DaimlerChrysler will introduce 34 new cars,
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Strategic Thrust In the long term our aim is to make Back in May 1998, the top brass at car giants Daimler-Benz and Chrysler announced the biggest cross-border merger in industrial history. DaimlerChrysler Manufacturing
to complete most of the integration projects by the end of 2001. google_color_link = "003366";
Daimler said it hoped to broaden its product lines and save an annual $3 billion within three years with its purchase of Chrysler. from the 1997 figure of 2,886,981 units. points to 25.1 percent, for the division. google_color_border = "FFFFCC";
as well as enlarging the production capacities of the automotive and
News
and on investment in fixed assets. after taxes, significantly exceeding the established 9.2 percent minimum
Mercedes-Benz, Freightliner, Sterling, Setra e 3.4 billion
MOST RECENT 2019 Annual Report. The SEC probe began in 2004 when an auditor complained he was fired for protesting … This segment is made up of Adtranz,
Aerospace e 1.0 billion / + 11 percent, Other e 0.4 billion
Return on net assets (RONA),
They include the cooperative and result-driven management style
Compared to the
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were e 56.5 billion. for Automotive Professionals & Car Enthusiasts,