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Spyker attempting to sell Saab real estate in money-raising move
Tue, 12 Apr 2011The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.
England's first motorway pub set to open
Mon, 20 Jan 2014The British motorway network has a history of firsts. The first motorway was famously the eight-mile stretch of Preston bypass, which opened on the 5 December 1958. Then came the first motorway services at Watford Gap in November 1959.
New design boss for Alfa
Thu, 14 Jun 2007By Jack Rix Motor Industry 14 June 2007 11:42 Frank Stephenson, the man credited with designing the new Mini and Fiat's retro 500, has been appointed to head up Alfa Romeo's design centre. He replaces Wolfgang Egger, responsible for the swooping 8C Competizione, who left earlier this year to join Audi. Stephenson joins Alfa at a crucial time, prior to its re-entry into the US market.