Daimler: Global Knowledge Sourcing and Research

Between 1997 and 2007, Daimler-Benz went through several major mergers and demergers. In 1997, before the merger with Chrysler, Daimler-Benz turned over more than US$ 69 billion (DM124 billion) and employed a work force of more than 300,000 world-wide. There were 23 business units in four divisions: Passenger Cars, Commercial Vehicles, Aerospace, Services, as well as in the directly managed industrial business units (rail systems, microelectronics, diesel engines and others). Eight years later, in 2005, DaimlerChrysler AG turned US$ 176.7 billion and employed a work force of more than 380,000 world-wide. After the divestment of its Aerospace business, DaimlerChrysler had four divison again: Mercedes Car Group, Chrysler Group, Commercial Vehicles and Financial Services. In 2007, Chrysler was sold to Cerberus, in a move that raised share prices for the new Chrysler and Daimler.