The company most famous for its Karmann Ghia — Osnabrueck, Germany-based Karmann — could be up for sale, a new report finds. The German supplier is finding it increasingly difficult to land manufacturing contracts and is also fighting declining sales.
Karmann’s owners have already met with potential buyers, but the company won’t make a decision on the matter until at least next month.
Although Karmann’s convertible business still does well, lack of other manufacturing contracts have hurt the supplier’s painting and assembly arms in recent years. Karmann’s 2007 sales slipped by 16 percent.
The company has already cut 500 of its 5,000 Germany-based jobs, with another 1,000 cuts on the way.
