Sweden dismayed over GM decision on Saab (Extra)

Dec 18, 2009, 15:44 GMT

Stockholm - Sweden expressed its dismay Friday over the announcement by General Motors that it had not found a buyer for the ailing Saab company and aimed to wind the Swedish carmaker down.

'This is a very surprsing decision, very regrettable especially for all employees,' Enterpirse Minister Maud Olofsson said at a news conference at Saab's main plant in Trollhattan, south-western Sweden.

'All the employees have really done what they could have done. It is GM that has taken this decision,' Olofsson said.

Olofsson said the government had been involved in the process to find a new owner, which could take over from GM and carry through a new business plan.

'We have to shift focus and see how we can help employees and local municipality to look ahead,' Olofsson said.

The Swedish minister also was critical of the US carmaker: 'GM could have done more, as owner they have ultimate responsibility.'

Meanwhile Saab chief executive Jan Ake Jonsson expressed his disappointment.

'We are very disappointed. many of us have workd hard the past 15, 18 months. We were on the move, talks with Koenigsegg and new parties were intense,' Jonsson said, referring to the low-volume Swedish sports carmaker which in November had pulled out of talks about a possible acquisition of Saab.

'We are waiting for more information from General Motors on how they will proceed,' he said.