Dow Jones reported that German truck maker Daimler AG (Daimler AG) No. 1 February, said the Iraqi government and Daimler Group has signed a Mercedes-Benz truck and truck assembly equipment supply agreement.
Daimler said that Daimler will provide a full range of trucks, truck packages, tools, assembly equipment, and technical support for Iran's state-owned auto industry. However, Daimler did not disclose the specific transaction amount.
On the same day that Daimler announced the news, the Daimler Group's stock price on the Frankfurt exchange rose by 5% to 33.7 euros (about US$46.52).
In July 2008, Daimler signed a memorandum of understanding with the Iraqi government.
In February 2009, Daimler established an office in the Iraqi capital Baghdad to enter the truck and bus market in Iraq.
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