
The impact of the worldwide economic crisis on the automobile business has hit one of Swedens two major brands -- Saab. GMs foray into the near-luxury market, with its purchase of Saab, was altered today when the Saab Board filed for reorganization under a self-managed Swedish court process to create a fully independent business entity that would be, sustainable and suitable for investment. The Vänersborg District Court quickly approved the request for a reorganization and restructuring that Saabs representative had submitted earlier in the morning. Today is the beginning of a new chapter in Saabs history, says Jan Åke Jonsson, Managing Director of Saab Automobile. 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.
Saab
GM
jan ake jonsson
mrpitv