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Last Updated: Monday, 12 February 2007, 10:53 GMT
German call for Chrysler spin-off
Chrysler
DaimlerChrysler is the world's largest commercial truckmaker
Investment firm DWS has called on DaimlerChrysler to consider selling the firm's US Chrysler unit, according to a German newspaper.

DWS wants a spin-off of the American unit to be considered in restructuring plans for Chrysler, the Frankfurter Allgemeine Sonntagszeitung reported.

"It would be irresponsible for management to exclude this option," DWS fund manager Henning Gebdhardt said.

DWS owns about 0.85% of DaimlerChrysler shares, according to Reuters.

Job cuts predicted

German-owned DaimlerChrysler, the world's fifth biggest carmaker, will unveil its latest restructuring plan for Chrysler on Wednesday.

Some analysts predict the firm will cut thousands of jobs and close two US Chrysler plants.

Chief Executive Dieter Zetsche's credibility is at stake after the firm announced profit warnings last year, following sluggish US sales.

Both of its US rivals, GM and Ford, have already announced tens of thousands of job cuts, and the closure of dozens of plants, in a bid to return to profitability.

The US carmarkers have been losing market share to their Japanese rivals, and the rise in gasoline prices in the summer hit Chrysler particularly hard.




SEE ALSO
Chrysler to cut car prices in US
20 Oct 06 |  Business
US sales woes hit DaimlerChrysler
25 Oct 06 |  Business
DaimlerChrysler warning on jobs
11 Dec 06 |  Business

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