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Daimler AG is a German automotive concern. The largest company in terms of turnover of Germany (based on the results of 2006). The headquarters is in Stuttgart, Baden-Württemberg, Germany.
The history of the company begins in 1886, when Gottlieb Daimler and Karl Benz patented the world's first "three-wheeled vehicle with a gasoline engine." Later, in 1926, two independent companies Daimler Motoren Gesellschaft and Benz & Cie merged into a union - Daimler-Benz AG.
Concern DaimlerChrysler AG was formed in November 1998 as a result of the acquisition by Daimler-Benz AG of a company belonging to the "big three" of the US automotive industry - the Chrysler LLC corporation.
On May 14, 2007, DaimlerChrysler AG announced the sale of 80.1% stake in the Chrysler Group for $ 7.4 billion to the US private investment fund Cerberus Capital Management. The transaction was made on August 3, 2007. At the shareholders meeting on October 4, 2007, the name DaimlerChrysler AG was changed to Daimler AG.
On December 12, 2008, Daimler acquired a 10% stake in the Russian truck manufacturer KAMAZ, said Andreas Renschler, managing director of Daimler Trucks. The German auto concern will pay $ 250 million for $ 10 million of KAMAZ shares and $ 50 million for 2012. As a result of the transaction, Daimler will receive one seat on the board of directors of KAMAZ, the companies said.
On February 11, 2010, Daimler increased its stake in OJSC KAMAZ by 1% (up to 11%).
Owners and management
The largest shareholder of Daimler AG is the Arab Investment Fund Aabar Investments with 9.1% of shares.
Shares are distributed as follows among shareholders regionally (as of April 30, 2008):
32.3% Other European countries
21.2% of the USA
7.5% Other countries
Chairman of the Board of Daimler AG and the head of the Mercedes-Benz Cars division since January 1, 2006 is Dr. Dieter Zetsche. Further on the units:
Günther Fleijg - Managing HR and LR;
Dr. Rudiger Grübe is the Managing Director of the Development Division;
Wolfgang Bernhard is the manager of Daimler Trucks;
Bodo Jubber is the manager of the financial department;
Dr. Thomas Weber is the manager of innovative divisions.
Daimler AG - one of the world's leading automakers, the fifth largest automaker in the world. As of December 31, 2007 (or for the 2007 financial year):
The market capitalization of the group is about 67.4 billion euros
The concern's profit amounted to 99.4 billion euros
It sold about 2.1 million cars in all divisions
The company employs 272,382 people
Concern owns assembly plants in 17 countries of the world
At present, Daimler AG holds stakes in the following companies:
100% "Daimler Trucks" - production of trucks
85.0% Mitsubishi Fuso Truck and Bus Corporation
50.1% Automotive Fuel Cell Cooperation
22.4% European Aeronautical Defense and Space Company (EADS)
22.3% of Tognum AG
11.0% of KAMAZ
10.0% of Tesla Motors
7.0% of Tata Motors Ltd
Divisions and brands
The structure of Daimler AG includes the following units:
Mercedes-Benz Cars Group - is engaged in manufacture of cars of marks:
Daimler Trucks Group - is engaged in the production of large-capacity trucks (and, similar in type of production, buses), engines brands:
Daimler Trucks North America LLC
Freightliner Custom Chassis Corporation (FCCC)
Daimler Trucks Remarketing Corporation (DTRC)
Daimler Trucks Government Vehicles
Thomas Built Buses
Western Star Trucks
Mitsubishi Fuso Truck and Bus Corporation
Mercedes-Benz Vans Group - is engaged in the production of small-capacity trucks brands:
Daimler Buses Group - produces buses of brands:
Orion Bus Industries
Daimler Financial Services - finances projects of the group:
Mercedes-Benz Bank AG
Daimler Truck Financial
Daimler Fleet Management GmbH