VW May Indeed Go for Karmann

The story of German manufacturer Karmann may continue after all, as reports pointing to a Volkswagen interest into some type of collaboration keep surfacing. After in early July a report by Neue Osnabruecker Zeitung first broke the news, today Financial Times Deutschland comes to reinforce by saying VW is exploring the option to buy the bankrupt company.

The most recent report doesn't give any details regarding a possible tie-up between the two, yet ie July the buyout was considered a done deal, with Volkswagen providing 10 million euro financing for Karmann to build electric vehicles.

Such a move would benefit Christian Wulf the most, says Financial Times. The premier of the state of Lower Saxony, (were Karman is located and a major shareholder in Volkswagen) may be among the first to endorse such an action.

Until recently, Karmann, one of the biggest independent automotive manufacturers in Germany, was involved in the construction of Mercedes Benz's CLK convertible. With the discontinuing of the CLK, Karmann was left with no other choice than to file for bankruptcy. The last CLK was rolled off the assembly lines on June 22.

"Today, the last car built entirely by Karmann rolled off the assembly line," the company said in a release at the time. "We could no longer avoid shutting down the vehicle assembly line because auto manufacturers' strategies have changed," Ottmar Hermann, the company's administrator added.

Last month, Karmann's CEO, Peter Harbig, announced his resignation, leaving the company in the hands of Ottmar Hermann, the company's insolvency administrator.

Karmann is meanwhile still on the lookout for possible investors and, according to the source, several parties have already expressed their interest into acquiring the manufacturer.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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