The Daimler Group wants to spin off the truck and bus business. The car business is to operate under the name of Mercedes-Benz again in the future, the truck business under the name of Daimler Truck. Management hopes for a better development of the units and gives in to pressure from shareholders.
Make two out of one: The Daimler group is smashing itself, as the company surprisingly announced on Wednesday afternoon. Like a cell division, the seventh largest listed company in Germany splits up into a unit for cars and vans (previously Mercedes-Benz Cars & Vans) and a unit for trucks and buses (previously Daimler Trucks & Buses). It is the biggest restructuring of the company since the sale of Chrysler 14 years ago, after the hopes of the former merger were not fulfilled.