GERMANY: Karmann agrees deal to sell roof business
Insolvent German supplier Karmann has signed an agreement to sell its car roof making business to Magna International for an undisclosed sum although Financial Times Deutschland, citing company sources, put the price at about EUR20m (US$27m).
Insolvent German supplier Karmann has signed an agreement to sell its car roof making business to Magna International for an undisclosed sum although Financial Times Deutschland, citing company sources, put the price at about EUR20m (US$27m).
Magna will acquire the Karmann plant in Osnabrueck, Germany, as well as the company’s Polish activities, according to insolvency administrator, Ottmar Hermann.
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