Tesla Automation acquires insolvent German supplier Manz AG’s assets
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Tesla Automation GmbH, a subsidiary of Tesla Inc., has acquired key assets of the insolvent German supplier Manz AG, which recently entered insolvency proceedings. The deal includes over 300 employees and movable assets from Manz's Reutlingen site, pending approval from the German Federal Cartel Office. While around 100 employees will not transition to Tesla Automation, they will be offered opportunities through a transfer company. Tesla Automation's Managing Director expressed optimism about the acquisition, emphasizing the expertise gained for future innovations in automation projects.
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