Daimler, an automobile manufacturer, completed the spin-off of its trucks and bus business into a separate publicly-traded company. "This is a historic moment for Daimler. It represents the start of a profound reshaping of the company. Mercedes-Benz Cars & Vans and Daimler Trucks & Buses are different businesses with specific customer groups, technology paths and capital needs. Both companies operate in industries that are facing major technological and structural changes. Given this context, we believe they will be able to operate most effectively as independent entities, equipped with strong net liquidity and free from the constraints of a conglomerate structure," Ola Kallenius, Daimler and Mercedes-Benz Chairman of the Board of Management.