Volkswagen Confirms Interest In Karmann Assests

Volkswagen has announced that they will buy assets from contract carmaker, Wilhelm Karmann GmbH. They will obtain resources from Karmann in an attempt to build a new car model. The German company will require machinery, land and equipment from Karmann in order to go through with their future plans.

It was said that VW will start production at the plant during 2011 and there was no news on which models will be built.

“The automotive industry is facing significant economic and technical challenges,” said Martin Winterkorn, the VW’s chief executive. “The Volkswagen Group is vigorously driving forward its longterm growth strategy by investing in environmentally friendly models, innovative technologies and new plants. We are continuing to make focused investments in our future,” Winterkorn said.

The deal will be set for about 26 billion euros.

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