Deals
Chrysler Buys Engine-Venture Stakes From Hyundai, Mitsubishi
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Chrysler Group LLC, the automaker run by Fiat SpA since exiting bankruptcy in June, said it bought out Mitsubishi Motors Corp. and Hyundai Motor Co. stakes in a Michigan engine factory.
The U.S. automaker took full ownership of the Global Engine Manufacturing Alliance plant in Dundee, Michigan, effective Aug. 31, according to a statement today. Financial terms weren’t disclosed. The venture, formed in 2003, has been making four-cylinder engines used in Chrysler vehicles.