Spyker buys Saab

Economy | 2010-01-26 | 5 comments
Updated. General Motors have agreed to sell Saab to the Dutch Spyker Cars. This they confirm in a press release.

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“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

According to GM, Spyker intends to form a new company, Saab Spyker Automobiles

The Swedish Government is now reviewing the deal and will then decide whether it stands for the guarantee to the European Investment Bank. According to the GM deal could be completed in mid-February if everything goes according to plan.

At a Government press conference tonight the Minister for Enterprise, Maud Olofsson, and Secretary of State, Jöran Hägglund where very happy.

“This is the result of a long and hard work,” Olofsson said.

“It´s been a process full of great anguish, and the employees have been fighting a battle between hope and despair.”

According to Olofsson, the government has worked actively and consistently with the regional government and GM.

“We gave an early statement: We are not ready to buy a car plant. If Saab would have a future, it would be with private owners with a business plan and a condition was also that GM needs to take responsibility for the process.”

She also announced that the new company is guaranteed a loan of around SEK four billion. Olofsson stresses that the money is marked for environmental projects and shall not be used to the ordinary operation.

“The aim is for Saab to produce vehicles that are greener and more friendly to the environment.”

Readers' comments

2010-01-27 09:28 Jeff wrote:
This is such a good day. As a SAAB owner for the past decade and an American who lived in Stockholm 30 years ago I can only say -- Tack!
2010-01-27 08:51 Simon wrote:
Great news, I am sure the DUTCH company Spyker will give Saab his identity back. Saab will be Saab in the future and not a Opel.
2010-01-27 00:26 Chalmers wrote:
Great, provided that this doesn´t become an asset stripping operation. I´ve been a Saab driver since 1975 and would like to remain one.
2010-01-26 22:05 Ivo wrote:
good move! GL to them
2010-01-26 21:23 lancelot wrote:

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