Word: daimler
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...electronics industries by 26%, to $2 billion. Machinery manufacturing has achieved an annual growth rate of 6%, reaching $2.4 billion in sales in 1967. Many large U.S. companies have firm roots in the Stuttgart area. IBM-Germany is now Baden-Württemberg's third-largest enterprise, after Daimler-Benz and Bosch. International Telephone & Telegraph Corp. owns Standard Elektrik Lorenz electronics company, the state's fifth-largest firm. Litton Industries, Ampex, Perkin-Elmer, Hewlett-Packard, Bendix Corp. and Hughes International are represented through their German subsidiaries...
...world's oldest existing automaker -Daimler cars first appeared in 1886 -Mercedes' preparations have been as solidly engineered as its cars. Going into 1967, the German industry was hit not only by the general business slump but also by a sharp change in the home market; as the once big postwar pool of first-time buyers emptied, automakers had to adjust to the slower pace of replacement sales. Going against the trend, Mercedes has aimed its 15 high-priced, high-performance models which hold 7% of the German market, at "men who have achieved something...
Most German automakers have been speeding along in reverse this year. Turned back by the country's recession, auto sales have retreated 19% from last year's peak, and exports have skidded by 14%. Yet at the Stuttgart works of Daimler-Benz A.G., where 80,000 employees are rolling out more Mercedes than ever, the industry is on overtime and in overdrive...
...trucks, buses and engines, which account for more than 40% of its business, should easily match last year's record $1.26 billion, yield more than $20 million in profits. And its exports to 160 countries will rise by 9% to 100,000 cars. Recession? Scoffs Dr. Joachim Zahn, Daimler's 53-year-old chief: "We at Mercedes were ready...
...that it lost money from the start. Simultaneously, the company started producing a loser on the other end of the scale: the onecylinder 13-h.p. Isetta. By 1959, the firm was so deep in the red that merger or absorption seemed inevitable. Rumors spread that several big firms, including Daimler-Benz and General Electric, were making bids. This so shocked proud Bavaria that a public campaign was begun to save the flagship of local industry...