Business

Dutch Spyker is buying GM's Saab brand
by Magdalena Rosova

Spyker, the Dutch company manufacturing cars, is about to buy General's Motor's luxury brand Saab. The transaction which is planned for middle of February should save employees' jobs and secure a good future for Saab. Tuesday General Motors announced that they are selling its Saab brand to luxury sport car manufacturer Spyker. John Smith, vice president of General Motors for corporate planning and alliances, stated that the transaction is the best for Saab employees, dealers, suppliers and Saab customers and fans over the world. Smith really believes that the transaction is the best way how of protecting Saab brand in the future. GM, Spyker Cars and the Swedish government worked hard to come to a deal that would protect Saab in future, Smith added. However, Spyker did not confirmed or at least commented the deal. GM said that companies agreed that Spyker will create a new company called Saab Spyker Automobiles that will seal the Saab unique and iconic brand. GM pre! viously announced that Saab will have to slow down the production, but thanks to the transaction such move will not happen. Spyker's shares rose more than 60 percent from Monday to Tuesday when gained 2.84 percent. GM had negotiated with several parties over the past few years, but the negotiations had never ended in satisfying conclusions. Today General Motors said that they are very pleased that they found a solution that will avoid a wind down of the brand and save jobs in Sweden and elsewhere. GM added that it would support Saab and Spyker in the future.

by Magdalena Rosova for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing peopl! e to easily talk, view, upload and share through free online T! V broadc asting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

posted by Blog TechSource @ 11:52 PM