DaimlerChrysler AG to open steering systems operation in Charleston

January 30, 2003 – DaimlerChrysler AG (DCAG) announced today that it will launch a new steering systems manufacturing operation in the Charleston region. The subsidiary, Mercedes-Benz Lenkungen U.S. LLC (MBL U.S.), will produce and sell steering components for the North American market. The announcement was facilitated by the Charleston Regional Development Alliance, a public/private partnership charged with expanding and diversifying the region’s economy.

MBL U.S. will locate in the Palmetto Commerce Park off Ladson Road in North Charleston, adjacent to the operations of DaimlerChrysler subsidiaries American LaFrance, which produces fire and emergency services vehicles; and MTU Drive Shafts, which produces passenger-car drive shafts.

The company will invest $8-$10 million in the operation, and expects to create at least 50 new jobs by 2005. Production at the plant will begin next year, and is expected to reach full capacity in 2005, producing 550,000 steering systems annually.

Gene Williams, Chairman of the Charleston Regional Development Alliance, welcomed MBL U.S. to the region, noting: “Our Alliance actively seeks to bring world-class companies to the Charleston region, companies that will benefit from our port and our skilled workforce, and in turn provide us with stable, high quality jobs. Today, we are announcing just such a win for the region.”

“This is a great day for Charleston and for DaimlerChrysler,” said Timothy E. Scott, Chairman of Charleston County Council. “We welcome MBL U.S. to the Charleston corporate family, and we’re honored by their presence. Mercedes-Benz and DaimlerChrysler are truly the gold standard in automotive engineering, and can literally locate anywhere in the world. The choice of Charleston, with our great port, efficient workforce and renowned quality of life, speaks volumes. We look forward to a long partnership together.”

North Charleston Mayor Keith Summey applauded the company’s decision to launch its North American operation in the Charleston region. “This announcement offers additional proof that our community has the right ingredients to support global manufacturers: a productive workforce, a robust port and a growing community of similar companies, all providing MBL U.S. with the perfect environment for growth and profitability. We welcome a successful, long-term relationship.”

In facilitating announcements such as this, the Charleston Regional Development Alliance works with many allies statewide. One particularly important participant in the process is the South Carolina Department of Commerce.

“It’s a good fit and a good example of what we’ve been saying all along about the need to make the cluster approach a central part of our economic development strategy,” said Governor Mark Sanford. “I’m glad MBL U.S. is going to play a part of that effort.”

“MBL U.S. will be a magnet to other automotive industries looking for high productivity and high quality,” said Secretary of Commerce Bob Faith. “I’m excited that another DaimlerChrysler company has chosen our state and will
heighten our access to world-class technology.“

The Charleston Regional Development Alliance represents Berkeley, Charleston and Dorchester counties. Its mission is to broaden and diversify business investment in this region, with a new emphasis on technology-intensive business sectors. Since its inception, the Alliance has worked with thousands of companies to help promote business investment and quality growth in the area. To learn more, go to www.charleston-for-business.com.

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Local Media Contact:
Colleen Troy
843-577-7327
[email protected]

Company Contact:
Trevor Hale
212-909-9062
[email protected]