DaimlerChrysler's Financial Arm

January 21, 1999 5:08 PM, EST

The newly created DaimlerChrysler Financial Services is expected to strengthen DaimlerChrysler AG’s position in the global truck market, the new company’s chairman said Jan. 20.

Klaus Mangold said during a news conference that the service will be the fourth largest non-banking financial company in the world, with a portfolio of $81 billion. He also said the company will move aggressively into markets beyond the limits of automotive financing.

DaimlerChrysler is the parent company of Mercedes, which is a leader in European truck sales, as well as Freightiner, one of the major truck manufacturers in the United States.