THE VIRGINIAN-PILOT
Copyright (c) 1997, Landmark Communications, Inc.
DATE: Thursday, February 20, 1997 TAG: 9702200053
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: 17 lines
FORD TO SELL HEAVY-DUTY TRUCK BUSINESS: Ford Motor Co. has agreed to sell its heavy-duty truck business to Daimler-Benz AG's Freightliner unit, a move that would allow Ford to shed a money-losing business and Freightliner to increase its dominance of the U.S. market. Analysts estimated the price at $200 million. With the acquisition, Freightliner will increase its No. 1 share of the U.S. heavy-truck market to more than 38 percent and double its dealer network, while the No. 2 U.S. automaker will gain factory space to build its profitable smaller trucks at the Louisville, Ky., plant where it makes heavy trucks. The action will not affect Norfolk operations.