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Mergers, acquisitions no longer taboo for new BMW CEO

From autonews| March 16,2007

BMW will consider all options including mergers and acquisitions as part of an ongoing strategic review, its chief financial officer said today.

"(CEO Norbert) Reithofer said very clearly that every part of the business, every option, everything is being under review, we have set ourselves no limits," Stefan Krause told analysts. It was too early to answer their questions about whether mergers and acquisitions may play a role in the future, he said.

Since its failed acquisition of British mass market carmaker Rover in 1994 that it sold six years later, BMW has avoided any large deals, preferring to grow revenues through its brands -- BMW, Mini and Rolls-Royce.

Reithofer, who took over as CEO in September, said it was time to rethink the group's plans for the future.

"We need a strategy review because we started a strategy process in 2001 for our company and we looked ahead five-to-seven years. And now we said it's time to start again a strategy review of the BMW group and I can assure you we looked ahead into the year 2015 to 2018," he said.

Reithofer signaled BMW would develop more fuel-efficient cars that unite improved aerodynamics, lightweight construction, less thirsty engines and better energy management.

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