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EUROSTAR MINIVAN PLANT DEDICATED IN AUSTRIA; FIRST MANUFACTURING VENTURE IN EUROPE FOR CHRYSLER IN 15 YEARS

 EUROSTAR MINIVAN PLANT DEDICATED IN AUSTRIA;
 FIRST MANUFACTURING VENTURE IN EUROPE FOR CHRYSLER IN 15 YEARS
 GRAZ, Austria, April 29 /PRNewswire/ -- Continuing its expansion in Europe, Chrysler Corporation (NYSE: C) today dedicated a new assembly plant in Graz, Austria, marking the company's first manufacturing venture in Europe in almost 15 years.
 The Eurostar Assembly Plant, a 50/50 joint venture with Steyr- Daimler-Puch of Austria, produces Chrysler Voyager minivans for the European and Middle East markets.
 On hand for the dedication were Chrysler Chairman Lee A. Iacocca, Austrian Chancellor Dr. Franz Vranitzky, Steyr Chairman Otto Voisard, Styrian Gov. Dr. Josef Krainer, and Graz Mayor Alfred Stingl.
 "Following our successful return to the European market four years ago, Eurostar is a strategic step to supplying minivans faster and more precisely to the world's biggest automotive market," said Iacocca.
 Chrysler re-entered Europe in 1988 with Jeep Cherokee and Wrangler and Chrysler passenger cars through built-up exports from North America. Jeep Cherokee had consistently been Chrysler's best-selling vehicle outside of North America, however, the Chrysler Voyager replaced the Cherokee as Chrysler's No. 1 selling vehicle in Europe last year.
 Voyagers have been sold in Europe for the past three years and have consistently gained market share in each of the European countries in which they sell. Last year Chrysler sold more than 17,000 of the popular minivans in Europe, a 48-percent increase over 1990. Chrysler expects its minivan sales to continue to increase as the minivan market in Europe grows.
 "Eurostar allows us to produce minivans that are specifically suited to the European customer," Iacocca said. "For instance, this facility allows us to put a diesel engine in the minivan, something we couldn't do cost effectively in North America."
 The Eurostar plant has the capacity to produce approximately 25,000 minivans per year with one shift and 50,000 with two shifts. Production will depend entirely on market demand for the minivan.
 Eurostar will employ 850 workers by the end of the summer when one- shift production reaches capacity. Both long- and short-wheel base versions of the minivan are produced. The first Voyager rolled off the Eurostar Assembly line on Oct. 28, 1991.
 Steyr-Daimler-Puch is renowned for its expertise in four-wheel-drive componentry and is providing the four-wheel-drive system for Chrysler's minivans.
 The Eurostar joint venture was formed by Chrysler and Steyr in January 1990 and the foundation cornerstone for the all-new, 50,000- square-meter (approximately 540,000-square-feet) assembly plant was laid on March 13, 1990.
 -0- 4/29/92
 /CONTACT: Karen Stewart or Tony Cervone of Chrysler, 313-956-2894/
 (C) CO: Chrysler Corporation; Steyr-Daimler-Puch ST: Michigan IN: AUT SU: JVN


JG -- DE015 -- 4270 04/29/92 10:27 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
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