Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1139 Sun. August 12, 2007  
   
Business


Chrysler plans expansion after Daimler split


Chrysler LLC is working on a significant global expansion following its split from Daimler AG, a senior executive said Thursday.

That expansion will include forging new international partnerships and could involve renewing past alliances with Mitsubishi and Hyundai, said Frank Klegon, vice president of Chrysler's product development.

"We want to grow as a global enterprise," Klegon said at an automotive conference in Traverse City, Michigan.

The announcement comes as Chrysler flexes its muscles under new owner Cerberus, a private equity group which bought an 80.1 percent stake in the historic US car company for 7.4 billion dollars on August 3.

Plans are in the works for new engineering and procurement centers in China and Poland to supplement facilities already established in Mexico and India, Klegon said.

These centers will also help locate suppliers for various components, negotiate with local governments on regulations and fine-tune vehicles to regional consumer demands, he said.