Volkswagen strikes deal with Israel investment firm to turn car plant into defense facility
- London — A Volkswagen car plant in northwestern Germany is to be converted to defense production, the company said Monday, as Europe’s biggest economy ramps up military spending amid a continent-wide push to rearm.
- Volkswagen said in a statement that it had agreed to sell its Osnabrück car plant to the State of Lower Saxony and Aurelius Capital, an investment firm headquartered in Tel Aviv.
- The local government and Aurelius, which would be the majority owner, plan to work with Rafael Advanced Defense Systems, one of the companies behind Israel’s Iron Dome.
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- London — A Volkswagen car plant in northwestern Germany is to be converted to defense production, the company said Monday, as Europe’s biggest economy ramps up military spending amid a continent-wide push to rearm.
- Volkswagen said in a statement that it had agreed to sell its Osnabrück car plant to the State of Lower Saxony and Aurelius Capital, an investment firm headquartered in Tel Aviv.
- The local government and Aurelius, which would be the majority owner, plan to work with Rafael Advanced Defense Systems, one of the companies behind Israel’s Iron Dome.
Sources: CNN