Bankruptcy
On 8 April 2009, Karmann filed for bankruptcy protection due to the sharp decline in demand for cars, and the company's financial obligations. Volkswagen revealed on October 24, 2009, that it had made an offer to acquire long-time partner Karmann. On November 20, 2009 Volkswagen said that it would buy Karmann's site at Osnabrück, to produce a new vehicle. On 4 November 2010 Valmet Automotive signed an agreement to buy Karmann's roof-component sections in Osnabrück, Germany, and Zary, Poland. Karmann's North American operations were sold August 2010 to Webasto Group.
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