Volkswagen has agreed to sell its Osnabrück plant to Aurelius Capital and the state of Lower Saxony. This facility will be transformed to produce air defence systems, maintaining a large portion of the current jobs.
The Volkswagen plant in Osnabrück will be sold to the Israeli firm Aurelius Capital and the state of Lower Saxony, according to official information from the automotive group. The aim is to transform the plant to specialise in armament manufacturing, guaranteeing most of the 1,800 current jobs.
The agreement will allow Aurelius, as the majority shareholder, to collaborate on an initial air defence project alongside Rafael Advanced Defense Systems, an Israeli company known for developing the Iron Dome system. The plant will become a centre of competence for security and defence solutions in Germany and Europe.
The CEO of Volkswagen, Oliver Blume, stated that this agreement represents "an important step towards a new industrial future for the plant". Meanwhile, Olaf Lies, president of the state of Lower Saxony, emphasised the need for Germany and Europe to strengthen their defence capabilities.
The transaction is subject to final agreements and regulatory reviews, and more details about the future of the plant and employment are expected to be shared in the coming months.
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