General Motors Announces Saab Automobile AB’s Departure And New Era of Independence

Posted on 20. Feb, 2009 by Ryan in 2000-2009

Image Credit: Saab Automobile AB (New Logo “Wordmark”)

This is the press release we’ve been waiting for since December of 1989, when General Motors took over Saab Automobile AB with a 50% stake.

Today, it is my great pleasure to provide you a press release twenty years later in 2009, stating that Saab Automobile AB will be departing 100% from General Motors over the course of this year.

The poll that I provided really made it clear with the results that everyone wanted Saab Automobile to be sold from GM, and effectively, this is the first step in the process.

To take a look back at the eras of Saab Automobile, please refer to my chart here.

I have gone ahead and asked the current Saab Automobile USA President, Steve Shannon to provide a video announcing this departure much like former President of Saab-Scania of America, Inc. Bob Sinclair did back in December of 1989 in his corner office of the merger. I am awaiting his response.

Saab History’s history continues here on Saabhistory.com and without further delay, here’s the press release (notice the updated Saab logo “wordmark” on the header in the press release)

Saab Automobile on the way towards independence

– ”today is the beginning of a new chapter in Saab’s history”

After 20 years of foreign ownership, the future of Saab Automobile is once again in Swedish hands. On Friday, the Vänersborg District Court approved the request for a reorganization and restructuring which Saab’s representative submitted earlier in the morning.

“Today is the beginning of a new chapter in Saab’s 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 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.”

The work of piloting the new Saab Automobile into the future will be led by a group of three persons: the lawyer Guy Lofalk, whom the District Court has appointed as Administrator, the Managing Director Jan Ã…ke Jonsson, and the international reorganization expert, Stephen Taylor.

The purpose of the company reorganization is to create a short-term stability that will make it possible to develop a long-term solution for Saab. The Swedish Company Reorganization Act says that an application shall not be approved unless there is reasonable cause to assume that the purpose of the reorganization will be achieved. In today’s decision, the District Court has found that such conditions exist.

“I can already say that I am impressed by the competence within Saab”, says Guy Lofalk, “and with three strong automobile models just around the corner it would be a waste not to try to find a long-term way forward.”

CONTACT(S):

Tel +46 (0)520 279 797

Tags: Bob Sinclair, District Court, Guy Lofalk, Jonsson, Logo, Saab logo, Saab-Scania, Stephen Taylor, Steve Shannon, Vänersborg District Court