Rafael to acquire Volkswagen plant in Germany for defense
Rafael Advanced Defence Systems signed a letter of intent to buy Volkswagen's Osnabrueck site. The facility will shift from cars to producing missile parts.
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Israel-owned Rafael Advanced Defence Systems signed a letter of intent to acquire a VOLKSWAGEN AG plant in Germany that employs 2,300 workers. The deal follows a March report of talks to pivot the Osnabrueck site from automotive production to missile defense systems. For investors, the pivot signals a shift in German industrial capacity toward defense as Berlin rebuilds its military.
