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
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.