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Chrysler LLC Sells Tritec Motors to Fiat Powertrain Technologies

Auburn Hills, Mich., Mar 12, 2008  - Chrysler LLC today announced that it has signed an agreement to transfer full ownership of Tritec Motors Ltda. to Fiat Powertrain Technologies (FPT). The purchase includes the facilities, manufacturing unit, production lines and the license to produce the current range of products.

The Tritec Motors plant is located in the town of Campo Largo in the Curitiba metropolitan area, in the southern Brazilian state of Paraná.

"Today's announcement is great news and provides a stable future for Tritec under the ownership of Fiat Powertrain Technologies," said Chrysler Vice Chairman and President Tom LaSorda.

Tritec Motors

Tritec Motors was established in 1996 between Chrysler and the BMW Group to manufacture 1.4- and 1.6-liter four-cylinder gasoline engines. The Tritec name stands for the union of the three countries involved: Germany, the United States, and Brazil.

The plant was built on a 314-acre (1.27 million square meter) plot of land. Construction of the 430,556 square foot (40,000 square meter) facility began in April 1998 and was completed by January 1999. The first motor was assembled in September of that same year.

Built according to strict quality and technology standards, the gasoline powered, four-cylinder, 16-valve 1.6- and 1.4-liter engines were destined for export, formerly equipping all BMW MINI models worldwide; the Chrysler PT Cruiser in South Africa, Europe and other foreign markets; and formerly, the Chrysler (Dodge) Neon sold outside North America.