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DaimlerChrysler to Open Latin Headquarters

CALIFORNIA | BRIEFLY / AUTOS

August 24, 1999|Bloomberg News

DaimlerChrysler, the third-largest auto maker in the U.S., is opening a headquarters in Miami for Latin American operations. The office will oversee sales of Chrysler, Jeep, Dodge and Mercedes-Benz vehicles and related financial services throughout the region. Myke Jacobs, vice president for Latin America, will head it. About 30 employees from DaimlerChrysler's Auburn Hills, Mich., headquarters and other places will move to the new office, joining about 40 workers already in Miami. The company has seven vehicle factories in Central and South America. The region generated about $3.4 billion in sales last year, DaimlerChrysler said. "This will allow us to reduce operating costs and maximize our sales, marketing and customer service," said Theodor Cunningham, executive vice president for Latin American sales and marketing. DaimlerChrysler shares rose 75 cents to close at $77.13 on the NYSE.

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