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Article: US plants boost Siemens VDO sales; German supplier buys 2 DaimlerChrysler plants in USA.(Suppliers)(Brief Article)
- Article from:
- Automotive News Europe
- Article date:
- February 23, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Edmund Chew
Siemens VDO Automotive will gain $1 billion ([euro]790 million) in annual sales from the purchase of two DaimlerChrysler US electronics factories.
United Auto Workers union members at the two Huntsville, Alabama, plants approved the sale.
The deal caps more than a decade of acquisitions for Siemens VDO, which is based in Regensburg, Germany. Global sales have risen from $2 billion in 1994 to an expected $10.6 billion with this purchase, Siemens VDO says.
The acquistion moves the German supplier ahead of Valeo SA in the Automotive News Europe ranking of the world's top suppliers.
Valeo's 2003 sales were ...