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Chrysler Corporation Dedicates New Asia Pacific Headquarters in Singapore

27 October 1997

Chrysler Corporation Dedicates New Asia Pacific Headquarters in Singapore

    SINGAPORE, Oct. 27 -- Chrysler Corporation today
officially established its new Asia Pacific Headquarters in Singapore.  The
new office is in keeping with Chrysler's global strategy of assuming more
direct control of its operations outside of North America.  The move comes one
year after the company opened its Southeast Asia Regional Headquarters in
Singapore.
    By focusing more resources in the region, Chrysler will be closer to its
customers and distributors and be able to react more quickly to changing
market conditions.  Prior to the opening of the Singapore office, overall
Asia Pacific operations were being managed from the company's headquarters
in Auburn Hills, Michigan, USA.
    "There is no better way to understand a market than to live and work in
it," said Ronald J. Gardhouse, President of Chrysler Asia-Pacific.  "By
establishing our headquarters in Singapore, we'll be able to respond more
quickly to issues facing the region.
    "A year ago, we stated we were serious about this region when we opened
our Southeast Asian headquarters.  Today demonstrates just how serious we are
about this market," Gardhouse said.  "Over the mid-to long-term, there are no
series of markets which offer so much opportunity to our industry.  Our goal
is to sell 150,000 units annually by the end of the decade or early into the
next."
    In 1996, Chrysler sold about 78,000 vehicles in the Asia Pacific market,
accounting for about 30 percent of the 250,000 vehicles the company sold
internationally.  Of the Asia Pacific amount, more than 25,000 vehicles were
domestically assembled in China, Thailand, Indonesia and Malaysia.
    "Ten years ago, Chrysler had only five product in five markets outside
North America with sales of less than 50,000 units," said Francois J.
Castaing, Executive Vice President of Chrysler's International Operations.
"Today, Chrysler is truly becoming a global automotive company and we're
concentrating our efforts on the 30 key markets around the world -- six of
which are right here in Asia -- that have accounted for 80 percent of our
total international volumes and 10 percent of Chrysler's overall revenues over
the past few years and 100 percent of the growth potential for the future."
    The Chrysler Asia-Pacific headquarters will eventually be home to about 40
employees.  Singapore was chosen because of its excellent infrastructure for
multinational companies and its geographically central location to
distributors and customers throughout Asia.

SOURCE  Chrysler Corporation