Chrysler, NV Philips to Form Joint Venture
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United Press International
Troy, Mich. — Acustar Inc., the parts-making subsidiary of Chrysler Corp., said it had worked outthe final details of a joint venture with Dutch electronics giant NV Philips to devlop, produceand sell automotive radios and sound systems.
Philips Car Stereo International, a unit of NV Philips, will hold a 51% stake in the newcompany, called Philips and Acustar Auto-electronics GmbH & Co.
The new company will be headquartered in Wetzlar, Germany, and Farmington Hills, Mich.
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