Management of Engineering and Technology
On May 6, 1998, Daimler-Benz AG and Chrysler Corporation, signed an agreement to combine their businesses, creating the third largest automotive company in the world. Jointly led by Juergen E. Schrempp and Robert J. Eaton as Co-Chairmen and Co-Chief Executive Officers, DaimlerChrysler shares joint corporate headquarters in Sruttgart, Germany and Auburn Hills, Michigan. DaimlerChrysler is now positioned to exploit the growth opportunities of the global automotive market in terms of geographical and product segment coverage. The muscle to complete this exploitation has come in the form of synergies created in operations, design, and manufacturing between the various business units of DaimlerChrysler. Through theses synergies, DaimlerChrysler has increased profits through cutting over $1 billion operating costs in 1999 alone. They have entered new automotive and commercial markets. Most importantly, they have set the global stage for success against increased competition in the new economy.
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Vanhuis, James; Presse, Jarrath; Lertsathitphong, Kiatiporn; Neunzert, Max; Bhiromkaew, Pimala; Jefferis, Ryan; and Saelow, Sukunya, "DaimlerChrysler Synergies" (2000). Engineering and Technology Management Student Projects. 1809.