January 29, 2007
DaimlerChrysler sells its air transport business
Stuttgart, Germany – DaimlerChrysler AG has sold its DaimlerChrysler Aviation GmbH, a 100 per cent subsidiary based in Stuttgart. The transaction is expected to be completed in the first quarter of 2007; both DaimlerChrysler and the purchaser, a subsidiary of ATON GmbH in Fulda, Germany, have agreed to keep the purchase price confidential.
DaimlerChrysler Aviation primarily provides tailored air-transport services to business travelers and currently employs approximately 200 people. In 2006, it generated revenues with companies of the DaimlerChrysler Group and third parties of approximately 65 million Euros. The new owner, ATON GmbH, makes long-term investments in companies dealing with the future-oriented fields of raw materials, services and applied technology.
DaimlerChrysler AG says that the sale is part of the measures “currently being taken to increase efficiency and optimize the Group’s portfolio, with the goal of improving the return on net assets.”