DaimlerChrysler AG says it is not actively looking to make an automotive acquisition, with top executives insisting there currently are no discussions underway with Italy'sSpA, Japan's Heavy Industries Ltd. or any other automaker.
However, Co-Chairmen Robert J.and Jurgen E. Schrempp won't completely rule out such action.
“We're not looking for any acquisition — unless something would drop in front of us unexpectedly,” says Mr. Schrempp.
Adds Mr.: “We're not currently in talks involving our automotive operations with anyone. But consolidation in the industry continues, and if something comes up, we would look at it.”
Although Mr. Schrempp has said an acquisition in Asia will be necessary for growth in that critical market, Mr. Eaton says not to expect anything in that arena this calendar year. He says there have been no talks between DC and, which is said to be eyeing a partner for its Subaru operations.
Mr. Schrempp says that some of the same reasons for not pursuing a tie up withMotor Co. Ltd. earlier this year apply to any merger with Fiat, as has been rumored, or others — namely that DC wants to maintain focus on the current integration of -Benz and operations.
“So we're not looking at anything,” Mr. Schrempp says. “But if the right opportunity comes along…”
DC wrapped up the first half of 1999 with about $7.9 billion in cash and cash equivalents.