DaimlerChrysler's Board Approves Smart Restructuring

Posted by www.eMercedesBenz.com on March 30, 2006 at 8:00 AM CST

A few days ago we told about DaimlerChrysler's plans to revitalize  
the smart brand by dropping the troubled smart forfour model.

Today in a brief statement, DaimlerChrysler has announced their  
company's governing bodies have approved the smart restructuring  
plan, and that the company has signed a non-binding Terms Sheet with  
the Mitsubishi Motors Corporation with the goal of entering into a  
binding agreement regarding the cancellation of the smart forfour.

So long good buddy.

You can find more info in the miniature press release below.


OFFICIAL PRESS RELEASE


New alignment of smart approved

DaimlerChrysler and Mitsubishi Motors Corporation sign non-binding  
Terms Sheet

Stuttgart, Mar 30, 2006
The governing bodies of DaimlerChrysler AG have approved measures  
related to the company’s focus on the smart fortwo, including the  
intention to cancel production of the smart forfour.

DaimlerChrysler and Mitsubishi Motors Corporation have signed a non- 
binding Terms Sheet as the basis for formal negotiations, with the  
goal of entering into a binding agreement regarding the cancellation  
of the smart forfour.

For more Mercedes-Benz news and information, visit  
www.eMercedesBenz.com.