German truck maker Daimler AG said Monday it has signed an agreement with the Iraqi government to supply Mercedes-Benz trucks and equipment for truck assembly, according to BussinessWeek magazine.
Daimler, based in Stuttgart, said it will provide complete trucks and truck kits, tools and equipment for assembly, as well as technical support in the deal with the Iraqi State Company for Automotive Industry.
The company did not disclose financial details.
“The agreement is the result of a memorandum of understanding that Daimler signed with the Iraqi government in July 2008,” the magazine said.
“In February 2009, Daimler opened an office in Baghdad for determining the market opportunities for trucks and buses in Iraq and coordinating the negotiations for the partnership agreement,” it added.
Daimler is the world’s biggest truck maker with brands including Mercedes-Benz, Freightliner and Mitsubishi-Fuso.
Shares of Daimler were about a fifth of a percent higher at euro33.47 ($46.52) in Frankfurt morning trading.