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BMW Group celebrates successful new beginning 50 years ago

Restructuring plan accepted on 30 November 1960
Herbert Quandt secured the company’s future
Munich. The BMW Group is celebrating its independence and the company’s continued success since its restructuring plan was accepted on 30 November, 1960 with a special ceremony at the Theresienhöhe in Munich on 30 November 2010. “Herbert Quandt’s business instinct and his ability to make courageous decisions at that time set a new course for our company and secured BMW’s ability to control its own future,” said Chairman of the Supervisory Board of BMW AG, Prof. Dr. Ing. Joachim Milberg, before the ceremony in Munich.
After rejecting Daimler-Benz’s takeover bid for BMW in 1959 and adopting the rescue plan in November 1960, BMW went on …

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BMW Group and PSA expand cooperation to hybrid systems

Development of hybrid components for front-wheel-drive vehicles
Cooperation will leverage significant economies of scale
Munich, Paris. The BMW Group and PSA Peugeot Citroën intend to expand their successful cooperation by including hybrid components for front-wheel-drive vehicles.
A memorandum of understanding to this effect has been signed by Norbert Reithofer, Chairman of the Board of Management of BMW AG, and Philippe Varin, Chairman of the Managing Board of PSA Peugeot Citroën.
The components are to be used in front-wheel-drive vehicles with electrified drive trains. Joint development and production of components as well as joint purchasing will leverage significant economies of scale for both partners. It will also allow them to standardise key elements for the electrification of vehicles.
“This cooperation will …

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BMW Group wins major order to supply Saab with engines

Four-cylinder engines will be delivered as of 2012
Trollhättan/Munich. The BMW Group has received a major order from Swedish automobile manufacturer Saab to provide petrol engines. The contract for delivery of the engines as of 2012 was signed on Wednesday by Ian Robertson, member of the Board of Management of BMW AG, responsible for Sales and Marketing, and the CEO of Saab Automobile, Jan Åke Jonsson, in Trollhättan in Sweden. The 4-cylinder engine with latest fuel savings technologies is intended for a new Saab model series. Both companies have agreed not to disclose any financial or contract volume details.
“We are continuing to expand our powertrain system sales business worldwide as planned as part of our Strategy …

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