DaimlerChrysler plans closer brand integration

LONDON, May 22 Reuters reported that auto giant DaimlerChrysler AG is formulating a 10-year plan for closer integration of brands including Mercedes-Benz, Chrysler and Mitsubishi, the Financial Times newspaper said on Wednesday.

In an interview with Chief Executive Juergen Schrempp, the newspaper reported he had asked executives at the German-U.S. automaker to develop plans for integrating parts distribution, dealer services, logistics and salary payments across the group.

But the newspaper said Schrempp had pledged to protect the identities of DaimlerChrysler's different marques.

Schrempp also reiterated the group's 2002 financial target, the newpaper said, quoting the chief executive as saying it "will have double the operating profit of the previous year."

DaimlerChrysler owns 37 percent of Mitsubishi Motors Corp of Japan, which has debts of 1.3 trillion yen ($10.4 billion). A DaimlerChrysler spokesman last week reiterated that taking a majority stake in Mitsubishi was a long-term aim.