FBOs
Ford buys a Chrysler in Pontiac
DaimlerChrysler Aviation, which had been on the block for several months, has been acquired from the German-based automaker by Ford Motor Company board mem

DaimlerChrysler Aviation, which had been on the block for several months, has been acquired from the German-based automaker by Ford Motor Company board member Edsel Ford II. As a result of the sale, the facility has been given back its former name–Pentastar Aviation.

The Pontiac, Mich.-based company was well known as Chrysler Pentastar, a subsidiary of Chrysler Corp., before the automaker was bought by Germany’s Daimler-Benz three years ago and Pentastar’s name was changed. This past February, DaimlerChrysler placed the aviation unit on the block as the result of across-the-board adjustments in response to the company’s deteriorating financial situation. The sale of the U.S.-based aviation unit to Ford is no surprise. AIN this past August revealed that Ford was negotiating for the unit.