Assets being blended include time-honored brands and speed to market, high-technology advances and product innovations in both the North American and European markets. Together, they form a global powerhouse. One of the chairmen for the new merged corporations stated that the Corporation will be, "Number one worldwide in the premium car segment, a world market leader with sport-utility vehicles and minivans, and the world's largest producer of commercial vehicles."

But DaimlerChrysler's reach extends not just to cars and commercial vehicles, but also to aerospace, services, finance, railway systems, automotive electronics and diesel engines. The new company was formed with one clear goal-to become the pre-eminent automotive, transportation and services company in the world. Globalization is a key objective in growing the company. Chrysler Corporation and Daimler-Benz were strong in two leading markets: North America and Western Europe, respectively. As DaimlerChr

For the nine months ended September 30, adjusted net income increased 12% to EUR 4.6 ($ 4.9) billion on revenues of EUR 108.5 ($115.5) billion, also up 12%. Earnings per share were EUR 4.62 ($4.92). In the same period, operating profit, adjusted for one-time effects, improved 15% to EUR 7.6 ($ 8.1) billion.

Mergers have historically occurred when one company was financially vulnerable. In this case, both companies are strong, reaching record profits. In fact, jobs have been added at both Daimler-Benz and Chrysler this year. Redundancies between the companies are minimal. In the automotive sector, the two companies' major brands compete in different market segments and in different geographic regions.

Along with a growing share of the global transportation market, DaimlerChrysler expects to realize cost savings from combining operations. In 1999, the first year of merged operations, DaimlerChrysler expects to realize benefits of $1.4 billion (EUR 1.6 billion)

May 14: Daimler-Benz Supervisory Board agreed to merger.

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Approximate Word count = 5050
Approximate Pages = 20 (250 words per page double spaced)