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Volkswagen, Israeli company Aurelius Reach Deal on Osnabrueck Plant
(MENAFN) Volkswagen has reached an agreement to sell its Osnabrueck factory to Israeli private equity company Aurelius and the German state of Lower Saxony, according to a statement issued Monday.
The planned transaction will transform the facility from an automotive manufacturing site into a center focused on security and defense technologies. Air defense systems produced by Israeli defense company Rafael are expected to be among the products manufactured there.
“Aurelius and the State of Lower Saxony intend to develop the site over the coming years into a competence center for security and defense solutions.
"As an initial anchor project, Aurelius and the State of Lower Saxony are planning to cooperate with Rafael Advanced Defense Systems,” VW said in a statement.
The facility is expected to produce air defense equipment and related components for Germany and other European markets.
The planned cooperation could also lead to additional defense-related partnerships and projects at the site in the future.
Volkswagen announced two years ago that vehicle manufacturing at the Osnabrueck facility would be phased out by summer 2027 as part of its broader restructuring plans.
Under the latest agreement, Aurelius is set to become the majority owner of the plant, while Lower Saxony will hold a smaller stake.
The final terms of the transaction are expected to be worked out during negotiations over the next several months.
The planned transaction will transform the facility from an automotive manufacturing site into a center focused on security and defense technologies. Air defense systems produced by Israeli defense company Rafael are expected to be among the products manufactured there.
“Aurelius and the State of Lower Saxony intend to develop the site over the coming years into a competence center for security and defense solutions.
"As an initial anchor project, Aurelius and the State of Lower Saxony are planning to cooperate with Rafael Advanced Defense Systems,” VW said in a statement.
The facility is expected to produce air defense equipment and related components for Germany and other European markets.
The planned cooperation could also lead to additional defense-related partnerships and projects at the site in the future.
Volkswagen announced two years ago that vehicle manufacturing at the Osnabrueck facility would be phased out by summer 2027 as part of its broader restructuring plans.
Under the latest agreement, Aurelius is set to become the majority owner of the plant, while Lower Saxony will hold a smaller stake.
The final terms of the transaction are expected to be worked out during negotiations over the next several months.
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