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March 16, 2010

GERMANY: VW mulls buying most of Karmann

Volkswagen AG is considering taking over insolvent supplier Karmann almost completely, sources close to the company told Financial Times Deutschland.

Volkswagen AG is considering taking over insolvent supplier Karmann almost completely, sources close to the company told Financial Times Deutschland.

A spokesman for receiver Ottmar Hermann said VW was in talks to acquire the technology development unit and would also consider buying the metal division, the sources said.

VW confirmed the talks but did not comment on the extent of the co-operation.

Some experts described VW’s plan as surprising but insiders said this was planned from the beginning.

Should the deals proceed, VW will forego only the Karmann convertible roof unit, for which Magna subsidiary Car Top Systems is considered the front runner, the paper noted.

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