Volkswagen: Acquisition of Karmann confirmed

Saturday, November 21, 2009

Volkswagen: Acquisition of Karmann confirmed

Volkswagen has confirmed the acquisition of Karmann.

Volkswagen’s Supervisory Board confirmed today that it will buy land, machinery and equipment formerly belonging to Karmann at its Osnabrueck, Germany. Volkswagen said that it will build a new vehicle in Osnabrueck in 2011 but did not specify what the new car would be.

“Volkswagen will begin vehicle production in Osnabrück in 2011,” Volkswagen said in a statement. “According to present plans, this will create over 1,000 jobs by 2014. Ongoing development contracts will continue in effect. Some 200 specialists will already be needed from next year to start production and set up the vehicle project.”