Private Management Group on Verge of Buying Chrysler

Chrysler might have a buyer.

It appears Cerberus Capital Management, a private equity firm, is on the verge of buying 80-percent of the auto maker from Daimler-Chrysler, the German firm that bought Chrysler nine years ago. No one knows what the deal might mean for Missouri. Chrysler has two assembly plants in Fenton. Its north plant employs 2,300 people making Dodge Ram 1500 and 2500 pick-ups. The south plant has 3,200 workers. It makes the Dodge Caravan, Grand Caravan and Chrysler Town&Country.

The south plant is closed for retooling expected to take six to 10 weeks. The north plant is running its normal two shifts.