GM and Swedish Partner to Refinance Saab

03/07/96

Reuters reported that GM will refinance Saab with it's Swedish partner. GM and the Swedish firm Investor jointly own Saab. The refinancing will launch the new model that Saab will use to replace the 9000 series next year. It will also pay for Saab's new paint facility. Saab officials claim that the refinancing should not reflect worries about the health of the struggling Swedish automaker. Rather, it's goal is to produce and sell more cars without changing the Saab workforce.

Paul Dever -- The Auto Channel