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News of  September 26, 2001

DaimlerChrysler-Mitsubishi Engine plant location: decision pending in December 2001

• European Commission published project application
• Approval for financial support still pending
• Decision by DaimlerChrysler and Mitsubishi Motors for either Kölleda (Thuringia) or Nyergesújfalu (Hungary)

Stuttgart - The European Commission has published the project application for approval of a subsidy for the construction of an engine plant for a new small-car-concept by DaimlerChrysler AG and the Mitsubishi Motors Corporation at Kölleda in Thuringia in the official Bulletin of the European Union. The publication was made in the context of the established approval procedure.

At present the European Commission in Brussels is examining the application of the Federal Republic of Germany regarding approval of a subsidy to build an engine plant in Kölleda. According to the application for the project, the maximum amount of the financing contribution, which is to be used for the amelioration of the regional economic structure, is EUR 64 million.

DaimlerChrysler AG and the Mitsubishi Motors Corporation are expected to announce their decision regarding the location of the new engine plant in December 2001. Possible sites under consideration are Kölleda in Thuringia and Nyergesújfalu in Hungary. The investment volume for the engine plant, where gasoline engines are to be built for vehicles of DaimlerChrysler AG and Mitsubishi Motors Corporation small car is app. EUR 244 million. The new engine plant would result in the creation of about 500 new jobs.

(Sept. 21, 2001)

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