UK Government to help BMW maintain factory
Article Abstract:
U.K. Prime Minister Tony Blair announced in the House of Commons that the government would be giving an aid package to Bayerische MotorenWerke AG (BMW) to overhaul their Rover factory in Longbridge. BMW was considering moving the factory, the U.K.'s largest automobile factory, to Hungary if the U.K. offered no incentive to stay. BMW's shares are getting downgraded by Deutsche Bank AG and Goldman Sachs, and the Rover unit saw losses rise from 260 million marks in 1997 to 1.87 billion marks in 1998. The new sedan to be made in the modernized plant is seen as crucial to the fate of Rover.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
DaimlerChrysler will revamp management board, report says
Article Abstract:
Juergen Schremmp, the co-chairman of DaimlerChrysler AG, is planning to reduce the company's management board. The move is designed to accelerate the integration of what were formerly Daimler-Benz AG and Chrysler Corp. Mr. Schremmp is planning to downsize some positions on DaimlerChrysler's board by the end of 1999. New executives will then be appointed as the heads of each of the five groups that make up DaimlerChrysler.
Comment:
Co-Chmn Juergen Schremmp to reduce company's management board
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Hull-mounted sonars attach themselves to Dutch frigates. Dutch to invite eight tactical reconnaisance bids. Dutch IRSCAN on two-year lease for Swedish Navy coastal corvettes
- Abstracts: Dell to build 3rd plant in Ireland. Acer to computerize schools in Turkey
- Abstracts: Airlines in India wage price war on major domestic routes. Stimulus package unveiled; bank interest will be taxed to prompt spending
- Abstracts: R&SA identifies protection gap Ombudson hits out at combined service
- Abstracts: IT's GAS AND ALL GAS. KHODAYS TO TIE UP WITH INVER HOUSE