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July 18, 2007

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A long story finally ends: BMW Group transfers shares in Tritec to DaimlerChrysler

It all began in 1997, at a time when MG Rover was still BMW. In order to provide the BMW Group with small engines, especially 1.4 and 1.6 litre four-cylinder petrol engines, a joint venture with Chrysler was launched. Than BMW sold Rover, Daimler unified with Chrysler and suddenly BMW was in a joint venture with one of its main competitors, Mercedes-Benz. In the meantime Tritec Motors saw another change in its owner companies. Chrysler is getting separated from Daimler.

Tritec Motors Layout

Now the BMW Group has finally 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.

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.

July 12, 2007

Photos: BMW

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