SAAB Story…end’s with a smile. Now, will Hummer find the same fate?
General Motors Closes Sale of Saab to Spyker Cars
Atlanta, GA 2/23/2010 11:30 PM GMT (TransWorldNews)
General Motors and Spyker Cars NV have finalized the deal in which Spyker will purchase Saab Automobile AB. Saab and Spyker will operate under the Spyker brand, and Spyker will assume the responsibility for Saab operations.
This transaction represents the closure after months of negotiations, all aimed at finding a future for this brand. Throughout the past year’s negotiations, GM has worked with many people, including governments and investors to find a solution for the Saab brand.
General Motors, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 204,000 people in every major region of the world and does business in some 140 countries.
Saab entered the auto business in 1949 with the first model 92. Its aerodynamic shape and advanced technology drew from the company’s roots as an aircraft maker, and helped create what was to become a loyal and passionate customer base.