Saab Cars North America Announces New Headquarters

DETROIT, March 16 /PRNewswire/ --

• Saab Cars North America to reside in Royal Oak, Michigan
• Company to invest $2.4 million to enhance North American Sales and Marketing Operations
• Over 2000 jobs to be retained or created over the next few years

Saab Cars North America today announced that its headquarters will reside in Royal Oak, Michigan, creating or retaining approximately 2000 jobs in North America.  The company will invest $2.4 million to enhance its U.S. Sales and Marketing operations.  Saab Automobile AB was recently purchased by the Dutch automobile company, Spyker Cars NV.

"Saab Cars North America appreciates the assistance and cooperation of the City of Royal Oak and the Governor's office in helping make the company's decision a reality during tough economic times," said Mike Colleran, President and COO, Saab Cars North America. "As a direct result in acquiring local and state assistance, we look forward to renewing our U.S. presence as an independent, premium luxury automotive brand with Swedish heritage while maintaining our loyal following and potentially attracting new customers."

"From advanced batteries to homeland security and life sciences to building materials, companies across all industry sectors are choosing Michigan for their growth plans, because our state is a great state in which to do business," Governor Granholm said.

The State of Michigan Economic Development Council worked with the City of Royal Oak to secure the project. Governor Granholm approved a state tax credit, with local contribution by the City of Royal Oak, for a total benefit of $1.4 million over five years to encourage the company to expand in Michigan versus other competing states.

"This is tremendous news for Oakland County.  While the county continues to transform into a knowledge-based economy through my Emerging Sectors, Medical Main Street and Automation Alley initiatives, the automobile industry still employs a large segment of our workforce.  This affirms that we remain the global center of the auto industry.  Credit is due to the Michigan Economic Development Corporation, my Economic Development Department and Royal Oak," said L. Brooks Patterson, Oakland County Executive.

Saab entered the auto business in 1949 with the first model 92. Its aerodynamic shape and advanced technology drew from the company's roots as an aircraft maker and helped create what was to become a loyal and passionate customer base.  GM acquired a 50 percent stake in Saab in 1990 and acquired the balance of Saab in 2000.  As part of its strategy to focus on its four strongest brands in the U.S., GM began seeking a buyer for Saab in January 2009, a concerted effort that led to Spyker Cars NV purchasing Saab Automobile AB from General Motors on February 23, 2010.

For more information and a listing of Saab dealerships, please visit the website: www.saabusa.com.

SOURCE Saab Cars North America