Volkswagen plant in Germany to be re-equipped for defense production for the first time
Volkswagen has agreed on the terms of sale of its plant in Osnabrück to the investment company Aurelius and the authorities of the federal state of Lower Saxony, reports the TV channel "Dozhd".
The enterprise is planned to be gradually transformed into a center for the development and production of solutions in the field of security and defense — this will be the first automotive plant in Germany re-equipped for the production of military products, the newspaper notes.
The plant's first major partner is expected to be the Israeli defense company Rafael, which produces air defense systems, guided missiles, and electronic warfare equipment, and also developed the "Iron Dome" anti-missile defense system. In the initial phase, the partners are considering establishing the development and production of components for air defense systems in Osnabrück.
The sale is not yet finalized. The parties still need to agree on the financial and organizational structure of the new company, allocate powers, and obtain approval from corporate bodies and regulatory agencies.
The Osnabrück plant was established on the basis of the Karmann enterprise, which produced Volkswagen Beetle convertibles from 1949. After Karmann's bankruptcy in 2009, Volkswagen acquired most of the production.
Now reading
Hero of Belarus Maryna Vasileuskaya Gave Birth to a Daughter with Cosmonaut Aleh Navitski 36
Comments