GERMANY: ThyssenKrupp close to steering systems joint venture deal with DaimlerChrysler - report
German industrial group ThyssenKrupp is close to closing a deal to build steering systems in a joint venture with DaimlerChrysler, an industry source told the Reuters news agency on Friday. Reuters, citing its source, said Thyssen will take a 60% stake in the joint venture with Daimler's Mercedes-Benz Lenkungen GmbH steering business while Daimler will hold the remaining 40%, although Thyssen will have an option to buy out the rest of the stake in 2005.
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