Email
Password
Remember meForgot password?
    Log in with Twitter

article imageSaab Deal Signed, Sealed, Delivered

By Martin Laine     Feb 23, 2010 in Business
It’s official – all the paperwork is done, making Dutch luxury carmaker Spyker the proud owner of Saab automobile, ending months of uncertainty for the Swedish automaker’s employees and supporters. The announcement was made this afternoon in Sweden.
“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand,” said GM vice president John Smith. “This is a great day for Saab employees, dealers, and suppliers, and a great day for millions of Saab customers and fans worldwide.”
All of Saab’s operations are now under the Spyker umbrella, but it makes something of a curious pairing. Spyker is known for its very limited number of luxury cars. The company’s 90 assembly employees manufactured 21 cars in the first quarter of 2009 while 23 were sold at prices averaging about $275,000. Saab, by contrast, has 3,400 employees just in Sweden.
Saab chief Jan Ake Jonsson echoed the GM statement.
“The level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future,” he said.
“From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company,” said Spyker Chief Victor Muller.
More about Saab, Spyker, General motors
More news from
Latest News
Top News