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Head of the works council confident ahead of the demerger of Daimler – Daimler shares lower

A few days before Daimler was split up into a car and a truck manufacturer, General Works Council Chairman Michael Brecht was confident.

“There is a fundamental trust in the decision-makers that this will be a good story in the end,” said Brecht of the German press agency in Gaggenau in Baden. “We have all kinds of emotions within the workforce, because that’s a giant step.”

The truck and bus business from Daimler Truck is to be separated from the group on Wednesday of next week (December 1) and then to be listed on the stock exchange a week and a half later. With the division, Mercedes cars and trucks will go their separate ways and each have their own management. The aim is to increase the value of the previous divisions and to become more competitive.

“We have made sure that Daimler Truck is not only provided with the necessary capital, but also with a fair share of the total assets, which have been developed together over a long period of time,” said Brecht, who is also Vice Chairman of the Supervisory Board at Daimler. “We now have a set-up and general conditions with which we are satisfied. Now it is important that we implement this in order to really give full throttle to the new technologies – also in the commercial vehicle sector.” In order to meet EU climate requirements, the entire automotive industry must make a rapid transition from gasoline and diesel cars to electric cars.

In XETRA trading, the Daimler share fell slightly by 1.17 percent to EUR 88.97.

GAGGENAU (dpa-AFX)

Image source: Vladi333 / Shutterstock.com, Daimler, Vytautas Kielaitis / Shutterstock.com, JuliusKielaitis / Shutterstock.com

Reference-www.finanzen.at

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