Volkswagen to Buy Stake in Karmann

November 20, 2009 · Filed Under Companies, Suppliers

At its meeting today, the Supervisory Board of Volkswagen Aktiengesellschaft approved the acquisition of land, machinery and equipment formerly belonging to the Karmann holding company at the Osnabrueck site. For the coming weeks the establishment of a new Volkswagen car manufacturing subsidiary is planned and later on, the launch of a new vehicle project.

Volkswagen intends to start vehicle production in Osnabrück in 2011. According to present plans, this will create over 1,000 jobs by 2014. Existing development contracts remain effective, says VW. Some 200 specialists will be required next year for a start and launch the project.

“Employees and former employees of Karmann have extensive experience in the production of small series models, and they will draw on this experience when required,” they say in Wolfsburg.

On the basis of today’s Supervisory Board decision, Volkswagen is going conduct final negotiations with the shareholders of the Karmann holding company and the administrator.

Tags: Karmann, Osnabrueck, vehicle construction, Volkswagen, Wolfsburg