May 19 General Motors' (GM.N) Swedish unit Saab
Automobile on Tuesday sought court approval to extend a grace
period during which it is protected from creditors while it
looks for a new owner and fresh cash.[ID:nLJ583031]
Below are some key facts about Saab Automobile.
* Headquarters: Trollhattan, southwest Sweden.
* Financials: Saab has not made a profit since 2001.
-- In its first court filing in February Saab estimated its
2008 loss at 3 billion Swedish crowns ($392 million) and said it
expected a similar result for 2009. The company hopes to reach
profitability around 2011.
-- In 2007, Saab made an operating loss of 2.19 billion
Swedish crowns, according to the Swedish Companies Registration
* Employees: around 3,400 by May 18, 2009.
* Sales: 93,295 vehicles globally in 2008, or 1.1 percent of
total GM sales volume, down 25 percent from 2007.
* History: Saab has made cars in Trollhattan since 1949. GM
bought 50 percent of the firm in 1989 when Saab Automobile was
established as an independent company. 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. GM plans to move production of Saab 9-5 to its Opel
factory in Ruesselsheim, Germany, in 2009. There are also plans
for new 9-5 and 9-3 models and a 9-4 sports utility vehicle.
* Subsidiaries: GM Powertrain Sweden AB and SAAB Deutschland
GmbH. The latter has a German sales and service subsidiary.
(Sources: Saab Automobile, GM Sweden, GM Europe, Swedish
Companies Registration Office)
($1=7.866 Swedish Crown)