$TSLA – TESLA TO ACQUIRE SOME ASSETS OF STRUGGLING GERMAN SUPPLIER MANZ
Tesla Inc. agreed to buy certain assets of embattled German automation systems supplier Manz AG, which has entered insolvency proceedings after facing a liquidity squeeze.
Tesla Automation, which makes special-purpose machines at three locations in Germany, will add Manz’s Reutlingen site to its operations and take over more than 300 employees as well as movable tangible assets, Manz said Tuesday. The parties agreed not to disclose the purchase price.
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