Daimler to Invest EUR1 Billion to Modernize Mercedes-Benz Plant in Stuttgart
March 18 2015 - 10:25AM
Dow Jones News
By Neetha Mahadevan
FRANKFURT--Daimler AG (DAI.XE) said Wednesday it is investing
about 1 billion euros ($1.06 billion) this year to modernize its
Mercedes-Benz Untertuerkheim plant in Stuttgart.
The move will lead to cost savings amounting to hundreds of
millions of euros up to 2020, the company said in a statement.
As part of its Mercedes-Benz 2020 growth strategy, Mercedes-Benz
plans to significantly increase production volumes in the medium
term, providing stable employment at the Untertuerkheim plant in
the future.
"The plant will thus receive investments amounting into the
billions over the next few years for the realignment and
modernization of our production," said Peter Schabert, site manager
at the Untertuerkheim plant.
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
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