Thursday, December 31, 2009

Sale deadline extended, Saab to restart production lines



The end may still be near, but it’s not yet here for the struggling automaker Saab.
A Reuters dispatch carried by Automotive News reported today that the Dec. 31 deadline for a decision by General Motors on Saab’s fate has been extended and that Saab will restart production lines for its upcoming Saab 9-5 and other models.

Netherlands luxury car maker Spyker, which is interested in buying the Swedish company, said General Motors has extended the deadline for a deal to Jan. 7.

Saab spokesman Eric Geers said "We have the orders and we have to deliver them as usual. We also have the orders for the 9-3 and others. The factory has to continue again."

"We are preparing the wind-down process," Geers explained. "At the same time, we are open to options, to bids that come in. Therefore, the deadline has also been dropped," Geers said.

Merbanco Inc., a Wyoming-based group, has been named as another bidder for Saab.

source: examiner