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JEEP GRAND CHEROKEE TO BE BUILT IN EUROPE

 HIGHLAND PARK, Mich., Oct. 21 /PRNewswire/ -- Chrysler International Corporation and Steyr-Daimler-Puch Fahrzeugtechnik Ges.m.b.H. (SFT) today announced that SFT would build the Jeep(R) Grand Cherokee in Graz, Austria, beginning in late 1994. The Grand Cherokee will be the second Chrysler (NYSE: C) product to be built in Austria. The Chrysler Voyager minivan began production in late 1991.
 The agreement between Chrysler Austria and SFT calls for SFT to provide capacity for up to 47,000 Grand Cherokees per year, depending on market demand, at SFT's existing assembly plant.
 Chrysler Vice President of Product Design and International Operations Thomas C. Gale said, "The Jeep Grand Cherokee has been so successful in the North American market that it has been hard to schedule the needed production to meet the increasing demand in Europe and other international markets.
 "We also wanted the flexibility to add right-hand-drive and diesel models for international markets in the near future, so it only made sense to go out and get additional capacity at minimal financial risk to Chrysler," said Gale. "We could not have justified the investment required at Jefferson North (where the Grand Cherokee is currently built) to have both of these product variations available to us -- especially with the plant running at capacity."
 SFT will begin building the left-hand-drive Grand Cherokee in the fourth quarter of 1994, with the diesel and right-hand-drive models following in 1995 and 1996, respectively.
 "Our working with Steyr is a natural fit," said Gale. "And with their excellent technical capability and quality workmanship, we know the Grand Cherokees will live up to Chrysler's stringent quality standards."
 In addition to the assembly, SFT will also jointly develop the right-hand-drive version of the Jeep Grand Cherokee.
 "Chrysler's agreement again recognizes SFT's image as an experienced long-term partner of the international automotive industry," said Juergen Stockmar, president of Steyr-Daimler-Puch Fahrzeugtechnik. "The decision to build the Grand Cherokee in Graz was made after reviewing several options and will create an additional 1,100 jobs in the region of Steiermark (Styria)."
 Effectiveness of the agreement is subject to final contractual review and execution of supporting understandings from the shareholders.
 Chrysler and SFT also have a joint venture in Austria, called Eurostar, to build Voyager minivans for international markets. The Jeep Grand Cherokee production facility is adjacent to the Eurostar assembly plant. The assembly operation will be run independently by SFT and is not part of the Eurostar joint venture.
 -0- 10/21/93
 /CONTACT: Tony Cervone of Chrysler, 313-252-8800/
 (C)


CO: Chrysler International Corporation; Steyr-Daimler-Puch
 Fahrzeugtechnik Ges.m.b.H. ST: Michigan IN: AUT SU: JVN


SB -- DE013 -- 5079 10/21/93 10:33 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
Words:443
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