Chrysler to buy buy out Eurostar partner
NEW YORK - Chrysler Corp. expects to take full control of its Austrian minivan joint venture, Eurostar, after buying out the interest of its partner, Steyr-Daimler-Puch, Chrysler Chairman Robert Eaton said.
Eaton said Chrysler plans to buy Steyr's 50 percent stake in the Graz, Austria, factory.
Chrysler has not had its own European plant since the late 1970s.
Magna International, a major supplier to Chrysler, is in the process of taking control of Steyr-Daimler-Puch and its engineering subsidiary.
The joint venture assembles Chrysler's Voyager minivans for Europe. It is next to Steyr's main plant, which builds Jeep Grand Cherokee sport-utilities under contract to Chrysler.
Reuters News Service
Lincoln in Europe
LONDON - Ford will bring the Lincoln brand to Europe when it introduces the Lincoln LS sedan early next year.
However, Ford has not yet decided whether to sell Lincolns through a separate franchise, as in the USA, or through Ford dealers, said Mike Wear, director of UK fleet operations.
Prices for the Lincoln LS have not been determined.