July 16, 2007
BMW Group transfers Brazilian engine plant to the Chrysler Group
Munich, Germany – The BMW Group has transferred its shares in Tritec Motors Limitada to DaimlerChrysler’s Chrysler Group. The companies each held half the shares in the Brazilian engine plant.
The two companies have agreed not to divulge the details of the transaction, which is subject to administrative registration and regulatory approval. The Chrysler Group has assumed the responsibility for exploring long-term options for the plant, which may include its sale to a third party.
Tritec Motors was founded in 1997 by the BMW Group and Chrysler Group, to produce 1.4- and 1.6-litre four-cylinder gasoline engines. Large-scale production started in January 2000; the plant has an annual production capacity of around 250,000 units.