Nürburgring offered to German car supplier Capricorn: Firm strategies to preserve and#8216Ring public, make area a tech center

Company programs to preserve ‘Ring public, make location a tech center

German publication Der Spiegel is reporting that the 13-mile Nürburgring racetrack was obtained by German automobile supplier Capricorn, not by a group of American investors.

Presently, the insolvent track is practically wholly owned by Rhineland-Palatinate, one particular of the 16 states of Germany. The Nürburgring filed for bankruptcy in 2012, and it has been hunting for a buyer given that Might 2013. Der Spiegel says this new pending contract will be valid only if the EU Commission approves.

Capricorn is a motorsports organization with far more than 350 personnel, about 25 of which at the moment work at the ‘Ring. The firm manufactures crank and camshafts, cylinder liners, pistons and other internals. Der Spiegel says the company wants to produce a “technology cluster” in the spot.

The buy price hasn’t been revealed, but the area sold involves the track, an amusement park and some surrounding hotels.

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