Daimler-Benz buys out Smart car partner SMH
Article Abstract:
Daimler-Benz AG has bought the remaining 19% share it does not already hold in Micro Compact Car AG (MCC) from Swiss watch maker Swatch Group AG for an undisclosed price. MCC was a venture created jointly by Daimler-Benz and Swatch to develop Smart cars, which are plastic-bodied vehicles with panels that can be altered as simply as watch bands. The agreement puts a stop to the dispute between Daimler-Benz and Swatch parent Societe Suisse de Microelectronique & d'Horlogerie SA, which expressed discontent with Daimler's management of MMC and refusal to use the hybrid motor technology that the firm designed for the Smart cars.
Comment:
Sells the 19% share in Micro Compact Car AG to Daimler-Benz AG for an undisclosed price
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Peugeot Citroen considers buying stake in Proton
Article Abstract:
PSA Peugeot Citroen of France is considering acquiring an undetermined stake in Perusahaan Otomobil National Ltd., the Malaysian automobile company more known as Proton. Peugeot is choosing whether to buy a stake in one or several subsidiaries of Proton, or invest in Diversified Resources Bhd., Proton's holding company. The French automaker aims to use its Proton stake as a launching pad into other Southeast Asian markets as it seeks to increase its overseas sales. Peugeot currently only derives 16% of its sales from outside Western Europe.
Comment:
Is considering acquiring an undetermined stake in Perusahaan Otomobil National Ltd., the Malaysian automobile company
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Aerospace sector faces a bumpy ride
Article Abstract:
Analysts warn investors to be cautious about aerospace industry stocks in the wake of the merger between DaimlerChrysler Aerospace and Aerospatiale Matra. Industry consolidation is expected to boost profits in the long term, but for the short term companies such as Raytheon Corp are predicting lower earnings.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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