DaimlerChrysler CFO won't rule out spinoff of U.S. Chrysler - Mercedes-Benz Forum

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post #1 of 1 (permalink) Old 10-25-2006, 06:51 PM Thread Starter
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DaimlerChrysler CFO won't rule out spinoff of U.S. Chrysler

Back to square one...!!


DaimlerChrysler CFO won't rule out spinoff of U.S. Chrysler
Wednesday October 25, 1:39 pm ET

DaimlerChrysler's chief financial officer Bodo Uebber would not rule out the sale or spinoff of its troubled U.S. arm Chrysler group during a conference held Wednesday, according to an Automotive News report.

"We don't exclude anything here [including structural changes]," Uebber said. "We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions," Automotive News reported Uebber as saying.

The report said Uebber repeated his answer when asked again whether DaimlerChrysler had put Chrysler group for sale, adding "I don't do any speculation."

The world's fifth-largest carmaker reported Wednesday that the Chrysler group lost $1.47 billion in the third-quarter, down from a $393 million profit in the same period a year ago and warned investors the division could lose $1.2 billion in 2006.

The company has assigned a team of senior executives to study seven major facets of the Chrysler group's business to try to improve profit margins by $1,000 per vehicle, according to the Automotive News report.

DaimlerChrysler maintained its 2006 profit forecast despite a big third-quarter operating loss by Chrysler and a lower contribution from aerospace group EADS.

Thanks, D.

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