Wednesday, October 05, 2005

GM Sells Fuji Heavy Industries stake to Toyota

So what does that mean?

Fuji Heavy Industries is the parent company of Subaru, a company which makes several cars I'd love to have.

GM owned a 20 percent stake of Fuji, and much of Subaru's technology made it's way into GM cars (the Saab 9-2x, sometimes called the Saabaru, is an Impreza wagon re-badged as a Saab.) GM is selling 8.7 percent of the stock to Toyota, giving them access to underutilized production facilites, mainly in the US. While I'm not a big fan of the uber-behemoth that GM is (afterall, they trashed Saturn when they made it a 'corporate' company) I am a Subaru fan and think they will do well now that they reigns are passed over to a company which seems to know a bit about management.

[Via Reuters]

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