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DaimlerChrysler Sells Aviation Unit

German-American automaker DaimlerChrysler said it sold its Stuttgart-based aviation unit to ATON GmbH for an undisclosed amount.

The sale of DaimlerChrysler Aviation, a fully owned subsidiary, is "part of the measures currently being taken to increase efficiency and optimize the group's portfolio with the goal of improving the return on net assets," the company said in a statement.

DaimlerChrysler Aviation primarily provides tailored air-transport services to business travelers and has about 200 employees. In 2006, DCA generated revenues with companies of the DaimlerChrysler Group and third parties of approximately 65 million euros.

Fulda-based ATON makes long-term investments in innovative companies in the future-oriented fields of raw materials, services and applied technology.

Both companies agreed to keep the purchase price confidential.