Thyssen close to sealing Daimler parts JV-source

Newswire

FRANKFURT, June 27 (Reuters) - German industrial group ThyssenKrupp AG is close to sealing a deal to build steering systems in a joint venture with carmaking giant DaimlerChrysler , an industry source said on Friday. Thyssen will take a 60 percent stake in the joint venture with Daimler's Mercedes-Benz Lenkungen GmbH steering business, the source said. Daimler will hold the remaining 40 percent, although Thyssen will have an option to buy out the rest of the stake in 2005. "On the time ...

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