Nokia has announced that it has agreed on the terms of the sale of its Bochum, Germany facilities to Essen-based Thelen Group. The change in ownership of the properties in Meesmannstraße and in Rensingstraße takes effect retroactively to October 31, 2008. The new owner plans to establish a business park, where up to 1,000 jobs are expected to be created in the medium term.
Both parties have agreed not to disclose the purchase price and conditions of their agreement, although Nokia will contribute the net proceeds of the sale of the properties of the production site to the "Growth for Bochum" program.
The Growth for Bochum program was agreed between the government of North Rhine-Westphalia (NRW), Nokia and the city of Bochum in June, 2008 to settle the ongoing row over Nokia's decision to shut down its handset factory on the site.
"We appreciate the investment of Thelen, proving that "Growth for Bochum" is a successful development program. Thelen is an experienced real estate company that has already realized many successful projects in a difficult market environment. We are convinced that Thelen is the right partner for the development of this area," said Kristian Pullola, Vice President, Treasury, Nokia and head of the "Growth for Bochum" team at Nokia.
Thelen is one of the leading real estate companies with a leading portfolio in the Ruhr area and activities throughout Germany. The company is headquartered in Essen and has subsidiaries in Berlin and Rastatt. Thelen provides development and leasing solutions for real estates.
Gisela Achenbach, head of Nokia Bochum works council, added: "The creation of the industrial estates enables us to have a positive outlook on the future. We hope that also former colleagues, who have not found new jobs, will seek employment with the companies that come to the industrial park."
Posted to the site on 9th December 2008
Posted to: www.cellular-news.com/story/35064.php