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Iran Khodro, Mercedes to set up joint company

Tehran, July 30, IRNA -- Iran Khodro Diesel and German automaker Mercedes Benz signed a contract in Tehran on Thursday to establish a joint company.

The news was released after the Iranian papers had already reported about the joint venture.

According to the Iranian party, the top German manufacturer has a 50-percent share in sale and after-sales service.

The production line of the eagerly-awaited Mercedes Benz cars is expected to come on stream by the year-end, March 20, 2005, it added.

... Payvand News - 7/30/04 ... --

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