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Headline News

Saab Brand Saved by Dutch Company

2/24/2010

Spyker NV completes deal for Swedish car maker.


Scrap dealers and recyclers who service Saab factories and nearby supplier plants can perhaps breathe easier with the completion of a deal that has rescued the Swedish car maker.

Spyker NV has announced that financing agreements have been signed that allow the Netherlands-based niche auto company to begin implementing its plan to keep Saab viable.

In a mid-February news release, Zeewolde-based Spyker announced that its plans upon acquiring the Saab assets included the following:
• Saab will manufacture three to four model lines (consisting of sedans, hatchbacks, and a convertible) and “will investigate the potential of adding a fourth smaller car line in due course provided that the positive development of the smaller car segment continues.”
• Calling Saab’s assembly complex in Trollhättan, Sweden “one of the most efficient mid-size car plants in Europe,” Spyker says “production and sales volumes are aimed to be rebuilt to pre-crisis levels of about 100,000 to 125,000 vehicles annually.” (That total includes assembly of the 9-4X crossover built in Mexico).
• Saab’s Technical Development Center in Trollhättan will continue developing new vehicles.

The plan put forward by Spyker was developed largely by Saab executives and management, according to the Dutch company.

“Today’s announcement is great for Saab’s customers, dealers, suppliers and employees around the globe,” remarked Jan Åke Jonsson, CEO of Saab Automobile AB. “The level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future. Now we aim to get back to the execution of our business plan, starting with the introduction of the new 9-5 [model] later this year, and with the continued support of our employees and business partners I am confident we will succeed.”