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Dumped By GM, Saab Jets To Sweden To Reorganize Independently

Posted in auto industry, Cars, Foreign Cars, New Cars, Newsworthy, Saab by Suzanne Denbow | February 20th, 2009 | Leave a Reply |


Today, General Motors and Saab Automobile AB officially announced the dissolvement of their corporate marriage after enduring 20 years of a dysfunctional, unhealthy relationship (Volvo, are you paying attention?). Proclaimed Jan Åke Jonsson, Managing Director of Saab Automobile, “Today is the beginning of a new chapter in Saab’s history. We are now recreating Saab Automobile as an independent unit. The road ahead will not be easy. Many have already suffered considerably as a result of the crisis in the automobile industry and sacrifices will be a part of our future, but after a period of tough decisions we will have laid the foundations for a new beginning.”

In order to launch that “new beginning,” however, Saab must struggle to overcome two decades of mismanagement and neglect in order to display some sort of potential for a profitable future – a task made extremely difficult to accomplish when teetering on the brink of bankruptcy. Fortunately, Vänersborg District Court approved Saab’s motion for reorganization late this morning, granting the ailing automaker temporary relief from creditors. As per the terms of the legal agreement, Saab now has 3 months with which to reorganize the company in such a way as to convince both the Swedish government and potential outside investors of it’s future success. Confident in Saab’s capability to accomplish the difficult tasks set before them, Jan Åke Jonsson said, “Saab has a trademark which is well established both in Sweden and internationally. We have a documented efficient production and we have a strong range of models in development. That is why we have chosen this road. The future will be tough, but the commitment which exists to support the Swedish automobile industry and Saab will help us in the arduous tasks which lie ahead of us.”

Source: GM Media

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