EnglishDaimler AG, the world"s second-largest maker of luxury cars, plans to buy back up to 10 percent of its shares, according to an announcement made yesterday. Daimler will spend up to 6 billion EUR (9.3 billion USD) to buy back 96.4 million shares by 8 April 2009. Concurrently, the company will invest 177 million EUR (274.4 million USD) in two new factories in Dusseldorf and Ludwigsfelde amid an increasing demand for the Sprinter model. The two factories will create some 500 jobs in the following years. The Ludwigsfelde facility will be expanded by 50% until 2011. The Dusseldorf unit will be modernized to increase production capacity by 12% until the end of 2009.
Daimler to Buy Back 10% Of Its Shares
F.A.
Ziarul BURSA #English Section / 18 iunie 2008
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