The German automotive group Volkswagen will sell its Osnabrück factory, located in northern Germany, which will be converted for arms production. The stated objective is to maintain the majority of jobs in the long term.
Volkswagen announced on Monday that it had reached an agreement with the state of Lower Saxony and Aurelius Capital for the sale of the factory. Aurelius, as the majority shareholder, will acquire Volkswagen Osnabrück together with the regional executive.
The factory will be gradually transformed into a center of excellence for security and defense solutions. The first strategic project planned in the area of air defense will be developed in partnership with the Israeli company Rafael Advanced Defense Systems, to produce air defense systems and components intended for Germany and Europe.
Volkswagen expects that, subsequently, new projects and collaborations with other companies will be carried out within the scope of this industrial conversion.
