Tuesday, September 11, 2012

Penske Automotive agrees to buy Saturn from GM - Boston Business Journal:

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That could be good news for the inKansaws City, Kan. The plant, which employs about 2,100 union and 300 salaried workers, has builgt the Saturn Aura, along with the Chevg Malibu. Neither GM nor Penskse Automotive released financial details ofthe transaction, but the companiesz said the sale is expected to occur in the thirr quarter. Friday’s announcement of a buyer follows word on Tuesday that GM is in advancecd talks to sell its Hummer brand to Chinesescompany Ltd. GM filed for Chapter 11 bankruptcyh onJune 1. The company’s plane for paring back operations have reducingg the number of brands itwill offer, as well as the numbe of GM dealers.
terminated franchise agreements for its threeKansae City-area Saturn dealerships, . Pensks Automotive, based in Bloomfield Hills, claims to be the nation’a second-largest publicly owned auto It operates 310 auto franchises 159 in the United States and Puertoi Rico and 152 in other primarily theUnited Kingdom. The company’s chairman is Roger Penske, who also leads Penske

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