Thursday, March 06, 2008
Daimler reports £1.48bn Chrysler losses
Chrysler recorded a net loss of $2.92bn (£1.48bn) between the close of its sale on 4 August and the end of September, according to previous owner Daimler’s recently published 2007 financial report.
The loss has been attributed mainly to the agreement with the US United Auto Workers union and exceptional restructuring costs which were not necessarily incurred during the two-month period.
Chrysler, which was acquired by private equity firm Cerberus for $7.4bn last May, has disputed the report, however.
DATED: 06.03.08
FEED: MT
