Delegation of Swedish government to meet with GM regarding Saab
By Andrew C., 26 Aug, 2010. 0 Comments
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A meeting attended by representatives of the Swedish government and General Motors co. will take place next week in Detroit to determine the future of car unit Saab, according to a report from Sweden's national news agency. The Swedish delegation, which will be composed of officials from the finance and industry ministries, will meet with GM as well as with Ford Motor Co., which is in the process of selling its Swedish car unit Volvo. State secretary Joran Hagglund said that he believes GM has not closed the door to selling Saab, even if a wind-down process is ongoing. Hagglund said that he wants to make sure that GM has the information it needs. Dutch sports car maker Spyker Cars, which intends to buy Saab, has said GM has set a deadline of Jan 7. for bids for the Swedish firm. Saab, which GM has controlled since 1989, posted a loss of $340 million in 2008. It is expected that it made a similar loss last year. [via autonews]
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