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4-Traders Homepage  >  Equities  >  Xetra  >  Daimler AG    DAI   DE0007100000

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Daimler AG : Barack Obama visits the American Daimler Subsidiary Detroit Diesel Corporation in Michigan

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12/11/2012 | 01:44pm CEST

Redford, Michigan/USA, December 11, 2012

US President at Daimler

Barack Obama visits the American Daimler Subsidiary Detroit Diesel Corporation in Michigan

US President Barack Obama visited a North American commercial vehicle subsidiary of Daimler AG for the second time this year.

US President Barack Obama giving a speech in front of Detroit employees at the Michigan plant

After his visit to the Freightliner trucks production plant in Mount Holly, North Carolina, in March of 2012, the US President met the employees of the aggregate plant in Redford, Michigan, on Monday, December 10. At the Redford plant the Daimler subsidiary Detroit Diesel Corporation has its headquarters and produces powertrain aggregates under the Detroit umbrella brand for trucks of the Freightliner and Western Star brand.

During his visit at the location, Obama commended Daimler's plans to expand the production at the Redford location. For this, the company will invest $120 million and create 115 new jobs.

In future, Daimler production in the US State of Michigan will include the Detroit DT12 automated manual transmission and the new asymmetric turbocharger Detroit DD15. Thus, Daimler Trucks will become the first commercial vehicle manufacturer in the NAFTA region to offer a fully integrated powertrain from its own production.

Global product platforms coupled with local know-how

Andreas Renschler, Management Board Member of Daimler AG responsible for Daimler Trucks and Daimler Buses: "Under the umbrella of our components brand Detroit we combine engines, axles and transmissions into an efficient, fully integrated power-train," explained Renschler. "We will offer this powertrain portfolio in all our US trucks in the future. This is a prime example of our Global Excellence Strategy. We create global platforms for all powertrain components, which can then be adapted to local requirements. Thus, we are as global as possible and as local as necessary", underlined Renschler.

For example, transmissions will be produced in the Mercedes-Benz plant in Gaggenau and adapted to the country-specific requirements of trucks in the NAFTA region. Thus, Daimler Trucks can effectively optimize the levers of costs, production processes and quality with its cross-brand modular strategy and global production network, which will benefit customers in the end.

DTNA maps leading role in powertrain technologies

Martin Daum, President and CEO of Daimler Trucks North America

Martin Daum, President and CEO of Daimler Trucks North America: "A fully integrated powertrain from a single source is a decisive competitive advantage. That is why we decided in favor of the Redford location, where our employees work hand in hand in one location," underlined Daum. "With this we are placing great confidence in the workforce here."

The further development and optimized design of the powertrain are decisive for Daimler's industry leadership in green technologies. A good example of this pioneering role is the certification of Daimler Trucks North America in accordance with the GHG14 Greenhouse Gas Standard a full year earlier than required by the US Environ-mental Protection Agency (EPA) and the US National Highway Traffic Safety Administration (NHTSA). The entire vehicle program in the 2013 model year (long-distance trucks, medium-duty trucks as well as construction and municipal trucks) is fully compliant with the new GHG14 Standard, which is aimed at reducing greenhouse gas emissions for medium-duty and heavy-duty trucks. Note: GHG14 does not replace the current emission standard EPA 10, valid in the NAFTA Region (binding since 01/2010 - corresponds to Euro VI), since the latter addresses and regulates the classic pollution aspects (particles, NOx).

About Detroit Diesel Corporation

Detroit Diesel Corporation, headquartered in Detroit, Michigan offers a full range of powertrain components from a single source: heavy-duty diesel engines, axles and transmissions are represented in Freightliner and Western Star trucks under the umbrella brand Detroit.

About Daimler Trucks North America

Daimler Trucks North America LLC (DTNA) headquartered in Portland, Oregon, is the leading manufacturer of medium-duty and heavy-duty trucks in North America. DTNA produces and markets commercial vehicles of the Freightliner, Western Star and Thomas Built Buses brands.

The US commercial vehicles subsidiary belongs to the global Daimler Trucks production network comprised of 27 locations. In the year 2011 Daimler Trucks sold about 426,000 vehicles worldwide and earned EUR 28.75 billion in revenues with a workforce of over 77,000 employees. The company has achieved extensive synergies through the development of a cross-brand development network, global aggregates production and a global procurement organization.

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Financials (€)
Sales 2016 153 503 M
EBIT 2016 13 007 M
Net income 2016 8 543 M
Debt 2016 9 969 M
Yield 2016 5,19%
P/E ratio 2016 7,91
P/E ratio 2017 7,47
EV / Sales 2016 0,51x
EV / Sales 2017 0,49x
Capitalization 67 956 M
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Average target price 72,5 €
Spread / Average Target 14%
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NameTitle
Dieter Zetsche Chairman-Management Board & CEO
Manfred Bischoff Chairman-Supervisory Board
Thomas Weber Head-Group Research & Member-Management Board
Jan Brecht Chief Information Officer
Clemens A. H. Boersig Member-Supervisory Board
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