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Board of Management and Supervisory Board decide on Mitsubishi Motors
Stuttgart - In an extraordinary
meeting on April 22, 2004, the Board of Management and the Supervisory
Board of DaimlerChrysler have decided not to participate in a capital
increase planned by Mitsubishi Motors Corporation (MMC) and to cease
further financial support for MMC.
After the earnings
collapse of MMC in fiscal 2003, MMC has established a new business
plan with the strong support of DaimlerChrysler. According to this
plan, substantial financial resources are required to guarantee
a sustainable financial recovery of the company. Together with the
major shareholders of the Mitsubishi Group DaimlerChrysler has tried
hard to establish a solid financial structure. However, it was not
possible to find a solution leading to an acceptable result for
DaimlerChrysler.
