Star’s front row seat for sporting history
- Local newspaper week
Saab looks to leave GM umbrella
Friday 20th February 2009, 1:59PM GMT.
Swedish carmaker Saab is looking to unwind itself from General Motors after the parent company submitted drastic restructuring plans to the US government.
GM has been the full-owner of Saab since 1999, but a dramatic fall in car sales has seen it ask the US treasury for $30 billion (£21.1 billion) and announce plans to cut 47,000 jobs.
The Detroit-based firm had appealed to the Swedish government for funds to help prop up Saab but once rejected, the Stockholm-based carmaker had to reconsider its future.
An extraordinary board meeting saw the company file for bankruptcy protection and reorganisation.
Jan Ake Jonsson, Saab managing director, described the proposal as “the best way to create a truly independent entity that is ready for investment”.
Sponsored Links
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
LIVE traffic updates
Road, rail and airport - latest
Our new, live traffic and travel updates service - check before you set out.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
