December has always been a dramatic month in Saab's recent history. In 2011 it stood for the final end, but already in 2009 GM Saab wanted to finally close. In memory of the events of that time, we retrieved the press release from our archive.
Shortly before Christmas the end, it seemed. The sale failed, the dismantling of the plants was decided for January 2010. Alix Partners from Munich had already been commissioned to clear away. At the time, it was not foreseeable that things would eventually turn out differently, and that the battle for Saab would continue for a full 24 months. A black day for Trollhättan. Even if today, 10 years later, there is some hope for a better future and the continuation of vehicle construction.
Here is the original GM press release from December 18.12.2009, XNUMX:
Saab Sale Cannot Be Concluded
Brand to be wound down
Detroit. General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved. As a result, GM wants to start an orderly wind-down of Saab operations.
“Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution, ”said GM Europe President Nick Reilly. “We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers. ”
Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world.
As part of its efforts to become a leaner organization, GM began seeking a buyer for Saab's operations in January. Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC). GM expects today's announcement to have no impact on the earlier sale.
As the company continues to reinvent itself, GM has been faced with some very difficult but necessary business decisions. The focus will remain on the four core brands - Buick, Cadillac, Chevrolet and GMC - and several regional brands, including Opel / Vauxhall in Europe. This will enable the company to devote more engineering and marketing resources to each brand and model.