DaimlerChrysler dumps Detroit Diesel off-highway unit
PORTLAND — DaimlerChrysler says it’s selling its diesel-engine subsidiary in Germany and off-highway business of its U.S. engine unit Detroit Diesel Corp. to a financial investor.
According to Associated Press, the company is selling German unit MTU Friedrichshafen GmbH, which makes off-road engines — for about $1.9 billion.
DaimlerChrysler says the sale is part of a move to focus on its core vehicles business, AP reported.
Daimler is the parent of Freightliner LLC, which includes Freightliner Trucks, Sterling Trucks, Western Star and Thomas Built Buses.
— from Associated Press
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