NOVEMBER 3, 2001
DaimlerChrysler to lift stake in Ilmor
Mercedes-Benz boss Jurgen Hubbert has confirmed that DaimlerChrysler is discussing buying the shares in Ilmor Engineering owned by the Morgan Family and those of Roger Penske. The two parties each own 25% of the Ilmor business.
"DaimlerChrysler will take a higher stake in the company and at the same time give Mario Illien and his team full access to the technical innovations available in Mercedes Benz," Hubbert said. "In working closer together and organizing the cooperation in an even more structured way, we will at least be as efficient as those teams that claim the pre-requisite of success is to work under one roof."