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Chrysler Considering Closing Up Delaware Plant

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Chrysler Considering Closing Up Delaware Plant

DaimlerChrysler AG's Chrysler Group will tap executives from its German parent's Mercedes division to study restructuring moves, including the potential closure of an auto assembly plant, the Wall Street Journal reported Friday.

The company also plans to seek longer-term relationships with its suppliers as part of a sweeping new cost-cutting effort, the Journal reported, citing people familiar with the matter.

The initiative aims to cut $1,000 in costs from each of the vehicles Chrysler produces - a goal that, if reached, could save billions of dollars, according to the paper.

Read "Chrysler may close plant in big cost-cutting move" @ CNNMoney

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