Volkswagen's board leaning away from closing big plants in Germany, media report says

(Reuters) -Volkswagen's supervisory board is leaning away from closing large plants in Germany to tackle the automaker's cost crisis, a report by business monthly manager magazin said on Thursday, though no final agreement has been reached.

Board members discussed stopping production at the 300-person Dresden plant and selling the plant in Osnabrueck which employs around 2,300 people, the German magazine reported, citing an unspecified number of participants at a meeting in mid-November.

A potential buyer for the Osnabrueck plant, where capacity utilisation is just 30%, was far from being found, the magazine's report added.

The measures were still speculative and there was some division among members, with the powerful Piech and Porsche families, the largest Volkswagen (ETR:VOWG_p ) shareholders, wanting to take a harder line on cuts, the publication said, adding all sides wanted a solution by Christmas.



On Monday, the latest round of talks between the automaker and unions ended with no solution as record numbers of workers went on strike across Germany. Both sides agreed to continue negotiations on Dec. 16-17.

A spokesperson for Volkswagen declined to comment. A spokesperson for Porsche SE, the Porsche and Piech families' investment vehicle, declined to comment.

Source: Investing.com