Factbox: Saab as Spyker clinches deal

(BestGrowthStock) – Tiny Dutch sportscar maker Spyker clinched a last-minute deal on Tuesday to buy Sweden’s Saab, in an audacious attempt to turn around a money-losing brand that only days ago was headed for oblivion.

Below are some key facts about Saab:

* Headquartered in Trollhattan, southwestern Sweden

* Employed about 3,400 people in May 2009

* Sold 93,295 vehicles in 2008, or 1.1 percent of total GM sales volume, down 25 percent from 2007

* Sales in 2009 to July 10 totaled 23,875 units

FINANCIALS:

* Saab has not made a profit since 2001

* 2008 loss estimated at 3 billion Swedish crowns ($392 million). A similar result was expected for 2009.

HISTORY:

* Saab has made cars in Trollhattan since 1949

* In 1969 Saab AB and truck manufacturer Scania-Vabis AB merged under the name Saab Scania AB.

* GM bought 50 percent of the firm in 1989 when Saab Automobile was established as an independent company, with Investor AB having the other 50 percent. GM bought the rest of Saab Automobile in January 2000.

PRODUCTS:

* Saab’s 9-5 and 9-3 models are built in Trollhattan. The 9-3 Cabriolet is made by Magna Steyr in Graz, Austria.

* There are is also a new 9-5 — presented last year at the Frankfurt Auto Show — and plans for new 9-3 models and a 9-4 sports utility vehicle.

* China’s BAIC agreed late last year to buy technology from Saab, including the intellectual property for Saab’s existing 9-5 and 9-3 models and some equipment to make them.

SUBSIDIARIES:

* GM Powertrain Sweden AB and SAAB Deutschland GmbH — the latter has a German sales and service subsidiary

Stock Investing

Sources: Reuters/Saab Automobile, GM Sweden, GM Europe, Swedish Companies Registration Office (Compiled by Carl Bagh, David Cutler and Carol Bishopric; Editing by Helen Massy-Beresford/Will Waterman)

Keywords: GM/SAAB

Factbox: Saab as Spyker clinches deal