From Deutsche Presse-Agentur
Volkswagen and Siemens VDO Automotive have sold their jointly owned electronics systems offshoot Volkswagen Bordnetze GmbH to Japan's Sumitomo Electric Industries, VW said Monday.
Details of the price for Bordnetze, which supplies carmakers with parts, were not released.
Volkswagen brand chief Wolfgang Bernhard called the sale an "intelligent solution in the interests of the Volkswagen company."
The sale follows Sumitomo's plan to boost its operations in the the wiring systems segment in Europe.
Copyright 2006 dpa Deutsche Presse-Agentur GmbH. All Rights Reserved.
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