GM sells SAAB

[stormeaston]

Jan. 26 (Bloomberg) -- General Motors Co. agreed to sell its Saab unit to Dutch sports-car maker Spyker Cars NV in a deal that would save the 72-year-old Swedish brand that’s being wound down.

 

Spyker agreed to pay $74 million in cash and $326 million in preferred shares in the company that would emerge from the deal, according to the Dutch company. The transaction, subject to Sweden agreeing to guarantee a 400 million-euro ($563 million) European Investment Bank loan for Saab, is expected to close in February and Saab will exit an orderly wind-down process in line with the timetable.

 

Saab is among four brands, along with Pontiac, Saturn and Hummer, that Detroit-based GM is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the U.S. after its bankruptcy exit on July 10. A sale of Saab, which GM is in the process of winding down, may save many of the 3,500 jobs at Saab’s main factory in Trollhaettan in southwestern Sweden.

 

Spyker shares were suspended in Amsterdam trading at 1:45 p.m. local time. They last traded at 3.91 euros, valuing the company, led by Chief Executive Officer Victor Muller, at 84.8 million euros.

 

Other Saab bidders included Genii Capital, the private- equity firm that teamed up with Formula One tycoon Bernie Ecclestone; a group headed by former Swedish deputy Prime Minister Jan Nygren; and a Wyoming-based group led by Merbanco Inc. President Chris Johnston.

 

Swedish sports-car maker Koenigsegg Group AB, backed by Beijing Automotive Industry Holding Co., walked away from a deal to buy Saab in November. Beijing Auto later paid $200 million to buy some car technology from Saab to use in its own vehicles.

 

Saab, which traces its roots to aircraft company Svenska Aeroplan AB, was founded in 1937 to secure production of Swedish warplanes. The first car left the factory a decade later. GM bought half of Saab in 1990 and took full ownership in 2000.

[David Hawkins]

Jan. 26 (Bloomberg) -- General Motors Co. agreed to sell its Saab unit to Dutch sports-car maker Spyker Cars NV in a deal that would save the 72-year-old Swedish brand that’s being wound down.

 

Spyker agreed to pay $74 million in cash and $326 million in preferred shares in the company that would emerge from the deal, according to the Dutch company. The transaction, subject to Sweden agreeing to guarantee a 400 million-euro ($563 million) European Investment Bank loan for Saab, is expected to close in February and Saab will exit an orderly wind-down process in line with the timetable.

 

Saab is among four brands, along with Pontiac, Saturn and Hummer, that Detroit-based GM is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the U.S. after its bankruptcy exit on July 10. A sale of Saab, which GM is in the process of winding down, may save many of the 3,500 jobs at Saab’s main factory in Trollhaettan in southwestern Sweden.

 

Spyker shares were suspended in Amsterdam trading at 1:45 p.m. local time. They last traded at 3.91 euros, valuing the company, led by Chief Executive Officer Victor Muller, at 84.8 million euros.

 

Other Saab bidders included Genii Capital, the private- equity firm that teamed up with Formula One tycoon Bernie Ecclestone; a group headed by former Swedish deputy Prime Minister Jan Nygren; and a Wyoming-based group led by Merbanco Inc. President Chris Johnston.

 

Swedish sports-car maker Koenigsegg Group AB, backed by Beijing Automotive Industry Holding Co., walked away from a deal to buy Saab in November. Beijing Auto later paid $200 million to buy some car technology from Saab to use in its own vehicles.

 

Saab, which traces its roots to aircraft company Svenska Aeroplan AB, was founded in 1937 to secure production of Swedish warplanes. The first car left the factory a decade later. GM bought half of Saab in 1990 and took full ownership in 2000.

 

 

How many Models does SAAB produce? All I know of is the 900, 900S, 900 Convertible and the 900S Convertible. (4 Models)

 

 

EDIT: Never Mind, I just checked Ebay. they build quit a few models. Not bad with just 3500 People.

[DutchGT500]

I am not a Saab fan, but am a Spyker fan. The factory is 20 miles from my home. The cars are very unique.

 

http://www.spykercars.nl/?pag=1

 

 

NULLA TENACI INVIA EST VIA

In 1914 Spyker merged with the Dutch Aircraft Factory N.V. From that moment on the Spyker logo consisted of an aircraft propeller and a wire wheel. The axiom “Nulla tenaci invia est via” - for the tenacious no road is impassable - has held true for Spyker ever since.

 

The racing and aviation heritage of the early cars has been carried over to the contemporary Spykers, their design being heavily influenced by airplanes and aerodynamics. Their uncompromising engineering developed for racing. Hand-crafted in the same tradition as the earlier Spykers by the best craftsmen of our time using bespoke materials only. Built with passion for the most passionate drivers, for those discerning connoisseurs who do not just buy a car but have one built for them, to their exacting specifications. Benefiting from experience gained in the international race arena by entering basically standard Spykers in GT class events such as the 24 Hours of Le Mans, the ultimate endurance race challenge.

 

Spykers are the ultimate statement of individuality: a creation of timeless beauty in the form of a state of the art technology package with spectacular performance. Every Spyker is as much an individual as its discerning buyer. Identified by its chassis number and given its personality by the individual specifications of its owner which are perpetuated on the car’s build sheet, it is updated whenever any work is done to it and available to owners on a personalized web page.

 

Every owner may follow the assembly process of his or her Spyker day and night by means of a dedicated web cam-system - The Spycam™ - in the factory, an absolute first in the motorcar industry.

[David Hawkins]

I am not a Saab fan, but am a Spyker fan. The factory is 20 miles from my home. The cars are very unique.

 

http://www.spykercars.nl/?pag=1

 

 

NULLA TENACI INVIA EST VIA

In 1914 Spyker merged with the Dutch Aircraft Factory N.V. From that moment on the Spyker logo consisted of an aircraft propeller and a wire wheel. The axiom “Nulla tenaci invia est via” - for the tenacious no road is impassable - has held true for Spyker ever since.

 

The racing and aviation heritage of the early cars has been carried over to the contemporary Spykers, their design being heavily influenced by airplanes and aerodynamics. Their uncompromising engineering developed for racing. Hand-crafted in the same tradition as the earlier Spykers by the best craftsmen of our time using bespoke materials only. Built with passion for the most passionate drivers, for those discerning connoisseurs who do not just buy a car but have one built for them, to their exacting specifications. Benefiting from experience gained in the international race arena by entering basically standard Spykers in GT class events such as the 24 Hours of Le Mans, the ultimate endurance race challenge.

 

Spykers are the ultimate statement of individuality: a creation of timeless beauty in the form of a state of the art technology package with spectacular performance. Every Spyker is as much an individual as its discerning buyer. Identified by its chassis number and given its personality by the individual specifications of its owner which are perpetuated on the car’s build sheet, it is updated whenever any work is done to it and available to owners on a personalized web page.

 

Every owner may follow the assembly process of his or her Spyker day and night by means of a dedicated web cam-system - The Spycam™ - in the factory, an absolute first in the motorcar industry.

 

They should see the Road I have to use to leave my Home .............

 

I have suggested that SAI do this several times. I think it would be cool to watch them build a Shelby in real time.

[2007GT]

I am not a Saab fan, but am a Spyker fan. The factory is 20 miles from my home. The cars are very unique.

 

 

I have a 2004 SAAB 93. It's a great car. It's fast (It feels faster than the Shelby GT) and handles like it's on rails. Fit and finish is excellent. No mechanical problems. Loaded to the gills with features and I paid $24K for it brand new. It's also a very safe vehicle. Hopefully Spyker can breathe some new life into the company. A reintroduced Viggen model would be good for starters.

[QuadCam]

I am not a Saab fan, but am a Spyker fan. The factory is 20 miles from my home. The cars are very unique.

 

http://www.spykercars.nl/?pag=1

 

 

NULLA TENACI INVIA EST VIA

In 1914 Spyker merged with the Dutch Aircraft Factory N.V. From that moment on the Spyker logo consisted of an aircraft propeller and a wire wheel. The axiom Nulla tenaci invia est via - for the tenacious no road is impassable - has held true for Spyker ever since.

 

The racing and aviation heritage of the early cars has been carried over to the contemporary Spykers, their design being heavily influenced by airplanes and aerodynamics. Their uncompromising engineering developed for racing. Hand-crafted in the same tradition as the earlier Spykers by the best craftsmen of our time using bespoke materials only. Built with passion for the most passionate drivers, for those discerning connoisseurs who do not just buy a car but have one built for them, to their exacting specifications. Benefiting from experience gained in the international race arena by entering basically standard Spykers in GT class events such as the 24 Hours of Le Mans, the ultimate endurance race challenge.

 

Spykers are the ultimate statement of individuality: a creation of timeless beauty in the form of a state of the art technology package with spectacular performance. Every Spyker is as much an individual as its discerning buyer. Identified by its chassis number and given its personality by the individual specifications of its owner which are perpetuated on the cars build sheet, it is updated whenever any work is done to it and available to owners on a personalized web page.

 

Every owner may follow the assembly process of his or her Spyker day and night by means of a dedicated web cam-system - The Spycam - in the factory, an absolute first in the motorcar industry.

 

 

 

Like you, I am a Spyker fan. I remember seeing a Paris to Peking in gloss black at the New York International Automobile Show a few years ago; it was love at first sight!!!

 

The shifter mechanism is truly unique, the handcraftmanship is evident, lots of leather tastefully combined with brightwork throughout the cabin.

 

If I only had the money!!!

 

Can you tell how many cars are produced annually (all models combined)?

 

-QC

[DutchGT500]

They make about 40 a year. First half 09 was 21. Second half not yet known. They have a new model C8 Aileron that is good received and they started those end of June.

[QuadCam]

They make about 40 a year. First half 09 was 21. Second half not yet known. They have a new model C8 Aileron that is good received and they started those end of June.

 

 

 

Thanks "Dutch"- I figured Spykers were low production, hand made pieces.

I hope ownership of Saab doesn't drag them down into the financial dirt...

 

Read several write-ups in the American press about the C8 Aileron. It was very well received.

I hope they continue to do well.

 

On another topic, I see you have Borla Stingers.

Some folks here say they are loud (are not certified for use in California where they have sound limits).

I'm okay with loud (really), but some members remarked that they drone at highway speeds and elevate the cabin noise to an irritating level.

Your comment please?

 

-QC

[DutchGT500]

The Borlas have a nice and deep sound but they do drone. They get loud when I really drop the hammer. I like that. I am okay with loud too. But the drone is one of the reasons that I am selling them. I have the KR exhaust lying and they do not drone and have a real muscle car sound. With those I will go to hi cat X pipe or H pipe and long tube headers. Then you have a loud mean machine. Catless will make it extra ordinary loud and probably not right for the race track. Some track here have an 85db rule. I have got black flagged with my former 97 Cobra with just Magnapacks on the stock exhaust. About 99db. That's why I like racing on Spa Francorchamps. Have a look at Dutchies Pit Stop for race footage on the 24hr race. I thought there is a Spyker running there between the MC12 and F430. Dutchies Pit stop is about our Shelbys and what we do here in The Netherlands.

 

http://www.teamshelby.com/forums/index.php?/topic/47649-dutchies-pit-stop

 

I think it was post 11.