Tag Archives: Steve Griffes

GM Reaches Agreement to Sell Saab to Spyker

Posted on 26. Jan, 2010 by .

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It has been over a year since GM decided to strategically review Saab Automobile, but just over 20 years since they’ve been owned by GM .

Today, Spyker Cars, N.V. acquires Saab Automobile from GM, marking a new era for the company.

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GM Reaches Agreement to Sell Saab to Spyker

2010-01-26

DETROIT – General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we’re all happy for the positive outcome,” Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank. Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

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About General Motors: 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. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM’s largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada, and Italy. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors can be found at www.gm.com.

Saab background: 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. GM acquired a 50 percent stake in Saab in 1990, and acquired the balance of Saab in 2000. As part of its strategy to focus on its four strongest brands in the U.S., GM began seeking a buyer for Saab in January 2009, a concerted effort that led to today’s announcement.

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Tom Wilkinson
Tel: 313-667-0366
Mobile: 313-378-6233
tom.wilkinson@gm.com

Eric Geers
Saab Communications
Tel: +46 520 85110
Mobile: +46 703 205490
eric.geers@gm.com

John McDonald
General Motors Company
Phone: 313-667-3714
Mobile: 313-418-2139
john.m.mcdonald@gm.com

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MEDIA ADVISORY: Saab Conference Call Scheduled 2:00PM EST

2010-01-26

John Smith, vice president, global planning and alliances, will host a conference call for media at 2:00 p.m. EST (8:00 p.m. CET) to provide additional perspective on Saab.

· (800) 398-9367 (U.S.)
· +1 (612) 332-0226 (international/caller-paid)
· No access code is required
· Please provide your name and affiliation and ask for the GM conference call

An audio file of this call will be available shortly after the end of the call at http://media.gm.com.

Technical/broadcast questions:
Steve Griffes
313-220-7982 (mobile)
steven.l.griffes@gm.com

Tom Wilkinson
Tel: 313-667-0366
Mobile: 313-378-6233
tom.wilkinson@gm.com

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GM MEDIA ADVISORY: Saab Conference Call Scheduled

Posted on 26. Jan, 2010 by .

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GM is holding a Saab Conference call for 2pm today.

MEDIA ADVISORY: Saab Conference Call Scheduled

2010-01-26

John Smith, vice president, global planning and alliances, will host a conference call for media at 2:00 p.m. EST (8:00 p.m. CET) to provide additional perspective on Saab.

· (800) 398-9367 (U.S.)
· +1 (612) 332-0226 (international/caller-paid)
· No access code is required
· Please provide your name and affiliation and ask for the GM conference call

An audio file of this call will be available shortly after the end of the call at http://media.gm.com.

Technical/broadcast questions:
Steve Griffes
313-220-7982 (mobile)
steven.l.griffes@gm.com

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The GM Press Conference In Detroit – 11:30 EST

Posted on 25. Jan, 2010 by .

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MEDIA ADVISORY: GM Chairman and CEO Ed Whitacre to Provide Business Updates

2010-01-25

DETROIT – General Motors Chairman and CEO Ed Whitacre will host a press conference on Monday, January 25, to provide updates on GM business activities.

The press conference will begin at 11:30 a.m. EST in the Renaissance Conference Center located in Tower 300, Level 2, of the Renaissance Center in downtown Detroit.
The satellite feed for the press conference is:

The press conference will also be webcast at http://media.gm.com and at http://gmtv.feedroom.com/?fr_story=a313dd015fa9a7af0b9de0c1898de6c36e3b324f

The webcast will be archived at the site fr replay after 2 p.m. EST on January 25.

Technical/broadcast questions:
Steve Griffes

GM Communications Operations
313-220-7982 (mobile)
steven.l.griffes@gm.com

Summary:

* GM Chairman & CEO, Ed Whitacre has accepted a permanent position and has ended the search for a position.
* Saab, GM has not changed their mind on the wind down on the operation. Indicated advanced talks, and said that there is no deal to be announced this morning.

* No members of the press asked any questions about the ongoing negotiations with Saab at all.

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An Update Today On The Spyker Sale Process Of Saab

Posted on 25. Jan, 2010 by .

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Here’s a good update on what to expect today with regards to the Spyker-Saab sale process of Saab Automobile.

1) Sweden’s SVT have reported that the Swedish Government will make an extraordinary meeting today at 2:30pm in Sweden (8:30am U.S. EST) about the EIB Loan. (This will not be a press conference)

2) Secondly, GM in Detroit is expected to make an announcement via a press statement and/or conference call

MEDIA ADVISORY: GM Chairman and CEO Ed Whitacre to Provide Business Updates

2010-01-25

DETROIT – General Motors Chairman and CEO Ed Whitacre will host a press conference on Monday, January 25, to provide updates on GM business activities.

The press conference will begin at 11:30 a.m. EST in the Renaissance Conference Center located in Tower 300, Level 2, of the Renaissance Center in downtown Detroit.
The satellite feed for the press conference is:

The press conference will also be webcast at http://media.gm.com and at http://gmtv.feedroom.com/?fr_story=a313dd015fa9a7af0b9de0c1898de6c36e3b324f

The webcast will be archived at the site fr replay after 2 p.m. EST on January 25.

Technical/broadcast questions:
Steve Griffes

GM Communications Operations
313-220-7982 (mobile)
steven.l.griffes@gm.com

3) Spyker CEO is expected to make a statement at a conference today, unsure exactly when though. I’m hearing from my sources that this will be in Stockholm, possibly like the Saab-Scania/ GM statement 20 years ago.

Spyker Cars N.V. : SPYKER CARS N.V.: REACTION ON PRESS SPECULATION ABOUT SAAB
2010-01-25 14:06:54.376 GMT

Zeewolde, the Netherlands, 25 January 2010 – Spyker Cars N.V., manufacturer of exclusive premium sports cars, has noted recent press speculation about the SAAB negotiations. Spyker confirms that talks are ongoing, the outcome of which is still uncertain. As SAAB is currently in liquidation talks must end soon.

I will be updating this post as things progress. If you have tips, please don’t hesitate to add them and/or contact Saab History.

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