Volkswagen plans to sell its plant in Osnabrück to the investment company Aurelius Capital and the state of Lower Saxony. Following the deal, the facility is to be gradually transformed into a center for the development and production of solutions for the security and defense industries, UNN reports, citing Bild.
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According to the works council, around 1,400 of the current 1,800 employees will have the prospect of keeping their jobs at the site. Aurelius is to receive a controlling stake in Volkswagen Osnabrück GmbH, while Lower Saxony will hold a minority stake.
The plant is planned to produce, among other things, systems and components for air defense. The first major project is to be cooperation with the Israeli defense contractor Rafael, best known for the Iron Dome missile defense system.
Rafael CEO Yoav Turgeman said that the goal is to fully localize in Germany the production of technologies to protect Germany and the EU countries.
Car production in Osnabrück is due to end in the summer of 2027. The deal has not yet been finalized: it still needs to be approved by corporate bodies and regulators.
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