Key Developments: Daimler AG (DAIGn.DE)

DAIGn.DE on Xetra

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11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Renault-Nissan Alliance and Daimler AG expand cooperation with new plant in Mexico
Friday, 27 Jun 2014 10:10am EDT 

Renault-Nissan Alliance and Daimler AG:Expanding their cooperation with joint development of premium compact vehicles and joint production in Mexico.Says that their companies have agreed to establish 50:50 joint venture, business entity that will oversee construction and operation of new plant in Aguascalientes in north-central Mexico.New plant will be built in immediate vicinity of an already existing Nissan plant and will have an annual capacity of 300,000 vehicles when fully ramped up.Start of production is planned for 2017 with Infiniti models.Production of Mercedes-Benz brand vehicles will follow in 2018.Daimler and Nissan will share total investment cost for Aguascalientes of about one bln euros.Companies will add almost 5,700 jobs by the time the plant reaches full capacity, expected in 2021.In addition, high localization rate will significantly increase Mexican supply base.  Full Article

Daimler AG's DICV launched in Bangladesh-Business Standard
Tuesday, 10 Jun 2014 05:56am EDT 

Daimler AG:India Commercial Vehicles Pvt Ltd (DICV's) FUSO range of trucks was launched in Bangladesh-Business Standard.DICV, a 100 percent wholly owned subsidiary of Daimler AG.  Full Article

Daimler AG gives FY 2014 guidance; EBIT guidance above analysts' estimates - Conference call
Wednesday, 30 Apr 2014 07:30am EDT 

Daimler AG:Expects significant increase of sales in FY 2014.Says on basis of its current assumptions, the company also expect to significantly increase its Daimler group revenues, as well as EBIT from ongoing business in FY 2014.Reported revenue of 117.982 bln euros and EBIT of 10.815 bln euros in FY 2013.FY 2014 revenue of 125.392 bln euros and EBIT of 9.716 bln euros - Thomson Reuters I/B/E/S.  Full Article

Daimler AG unit Mercedes recalls about 284,000 cars in US, Canada over tail lights - Reuters
Tuesday, 29 Apr 2014 08:41am EDT 

Daimler AG:Daimler unit, Mercedes, is recalling about 284,000 of its C-Class sedans in United States and Canada because electrical issue could cause tail lights to dim or fail, according to company and documents filed with U.S. safety regulators - Reuters.Mercedes is recalling certain C300, C350 and C63 sedans from model years 2008 through 2011 as poor electrical ground connection could cause tail lights to dim or fail, raising risk of crash, according to documents filed with U.S. National Highway Traffic Safety Administration.Of cars recalled 252,867 were sold in United States, according to NHTSA documents.Daimler spokesman said rest of recalled cars were sold in Canada, and no other markets are affected.Spokesman said Daimler is not aware of any accidents or injuries related to issue.In 2009, Mercedes received five field reports in which loss of tail lamp was due to loss of electrical connection, but cause was unknown at that time and designated for further study, according to the NHTSA documents.Last year, NHTSA opened investigation into issue.NHTSA requested further information in March 2014, and in preparing to respond, Daimler decided to conduct recall.Dealers to replace bulb holders if not previously updated and replace any corroded connectors, according to NHTSA.Parts are now not available.Owners to be sent interim notification in June and second letter to be sent when parts are available, which is expected in August or September, according to NHTSA.  Full Article

Daimler AG to sell stake in joint venture Rolls-Royce Power Systems Holding Ltd to Rolls-Royce partner
Tuesday, 15 Apr 2014 08:00pm EDT 

Daimler AG:Announces that agreed with Rolls-Royce plc on valuation of Daimler’s 50-pct equity interest in joint venture Rolls-Royce Power Systems Holding Ltd.Both parties have determined fair market value of Daimler’s shares due to be acquired by Rolls-Royce at total of 2.43 billion euros.Transaction expected to close within this year.  Full Article

Daimler AG to merge distribution units in Romania-SeeNews - The Corporate Wire
Tuesday, 4 Mar 2014 07:00pm EST 

Daimler AG:Company plans to merge its Romanian distribution units Mercedes-Benz Romanian and EvoBus Romania-SeeNews - The Corporate Wire.Mercedes-Benz Romania will thus take over EvoBus Romania's operations including the sale of new and second hand buses and coaches and its retail operations.Company took the decision in order to make its sale and post-sale activities in Romania more efficient.Following the transaction, EvoBus will cease to exist as a different company.EvoBus Romania was founded in 2006.  Full Article

Daimler AG announces fiscal year 2013 dividend proposal
Friday, 7 Feb 2014 03:05am EST 

Daimler AG:Says that at the annual shareholders meeting to be held on Apr. 9, the board of management and the supervisory board will propose the distribution of a dividend of 2.25 euros per share for fiscal year 2013.Says it paid a dividend of 2.20 euros per share for fiscal year 2012.Says the dividend distribution amounts to 2,407 million euros and is equivalent to 35 percent of the net profit attributable to the company’s shareholders.  Full Article

Daimler AG's Romanian unit invests 40 million euros in assembling facility-SeeNews - The Corporate Wire
Thursday, 9 Jan 2014 07:00pm EST 

Daimler AG:Romanian subsidiary of Daimler AG, Star Transmission, opened a gearbox assembling unit for Mercedes-Benz vehicles, following an investment of nearly 40 million euros ($54.4 million)-SeeNews - The Corporate Wire.The assembling unit, which has an area of around 13,000 square meters, is located in Sebes, central Romania.Construction works on the facility lasted 10 months.The new unit employs 150 people who were trained in Germany for a year.Star Transmission operates another production unit in the country, in the central town of Cugir, which produces components for Mercedes-Benz car engines and transmissions.  Full Article

Daimler AG and Aston Martin Lagonda Ltd sign technical partnership agreements
Thursday, 19 Dec 2013 07:05am EST 

Daimler AG and Aston Martin Lagonda Ltd:Says they have signed an agreement for a significant technical partnership between Daimler AG, Mercedes-AMG GmbH, a subsidiary, and Aston Martin.Says the technical partnership will allow Mercedes-AMG and Aston Martin to develop bespoke V8 engines supporting Aston Martin's launch of a next generation of models that will incorporate cutting edge technology and newly-developed engines, combining high performance and fuel efficiency.Says Daimler will receive up to five pct non-voting shares in Aston Martin without cash consideration in several steps following the progress of the technical partnership.Says at the same time, the company will receive an observer status on the Aston Martin Holdings board.  Full Article

Lagardere , Daimler and seven Airbus executives sent for trial for alleged insider trading-Agence France Presse
Sunday, 1 Dec 2013 07:00pm EST 

Lagardere SCA:Lagardere SCA and Daimler AG have been sent for trial in France for alleged insider trading in the sale of shares in aerospace and defense group EADS NV - Agence France Presse.According to judicial sources, a number of EADS NV's Airbus executives are also to face the trial, namely John Leahy, current COO for customers, Noel Forgeard, former Joint Chairman, Andreas Sperl, former Financial Director, Jean-Paul Gut, Alain Flourens, Erik Pillet and Olivier Andries.Lagardere SCA and Daimler AG are alleged to have sold 7.5 percent stakes in EADS NV in early 2006 in the knowledge that Airbus was encountering problems with the production of its A380 super jumbo aircraft.France's stock market regulator AMF carried out an investigation into the conduct of Lagardere SCA, Daimler AG and 17 EADS NV executives and concluded in 2009 that there was no evidence any of the shareholders had sought financial advantage through the illegal use of privileged information.APPAC, a group of small investors, subsequently registered a criminal complaint that led to a full-blown probe by examining magistrate.Lagardere SCA and Daimler AG both protest their innocence.  Full Article

MV Agusta owner eyes float of up to 30 pct stake - report

FRANKFURT, July 10 - The majority owner of MV Agusta, Italy's Castiglioni family, is looking to float up to 30 percent of the Italian motorcycle maker on the stock exchange, German daily Boersen-Zeitung reported on Thursday, citing financial sources in Milan.

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