Munich-based automaker BMW is expected to post record profits for 2000 and has no plans to be taken over by a rival.

Chairman Joachim Milberg was quoted in the Berliner Zeitung as saying that the company will not be taken over for at least a decade.

'We are so well positioned that we will definitely stay independent for the next 10 years," he reportedly said in an interview with the newspaper.

The recent off-loading of Rover re-ignited speculation BMW would soon be taken over by, perhaps, an acquisitive Volkswagen. But BMW and the Quandt family, the major shareholder, have both denied that the family would sell their 47% stake.

Milberg reportedly said BMW is heading for record sales and profits this year. It expects to make about 1.3 billion euros, topping its 1997 record.

BMW also plans to sell 800,000 cars, Berliner Zeitung said. But it quoted Milberg saying: “We are very close to the capacity limit [and] can only sell as many as we make."