Volkswagen's Downsizing Starts With Selling A Factory To Israeli Arms Manufacturers - Jalopnik

Volkswagen’s downsizing plans are moving from strategy to asset sales, with one factory in Germany reportedly headed to the defense sector. The company is selling its plant in Osnabrück to Aurelius Capital, alongside the state of Lower Saxony, for a deal intended to repurpose the site for security and defense equipment. Financial terms weren’t disclosed. The new owners plan an anchor project with Rafael Advanced Defense Systems that could involve producing air-defense systems and components for Germany and broader Europe, according to Volkswagen. The report notes the sale could become politically complicated due to UN-related controversy over Germany’s arms sales to Israel and Nicaragua’s complaint at the UN.