Mustang Bullitt Forum banner
1 - 6 of 6 Posts

·
Premium Member
Joined
·
8,781 Posts
Discussion Starter · #1 ·
I know that Chris Theodore, former Ford-Chrysler-Ford executive is now the CEO of Saleen. His last assignment at Ford was as the VP which oversaw the design and construction of the Ford GT.

I think over the years, Ford helped them financially (key supplier for the Ford GT), but now with Ford's troubles, they are left on their own.

Saleen Automotive is the latest American carmaker to announce that it is seeking a potential buyer, with management acknowledging the firm has suffered financially from the economic downturn and rising fuel prices.

Saleen is a specialty vehicle manufacturer and a long-time tuner Ford tuner, and most recently unveiled its own concept vehicle, the Raptor S5S. The company has close links with both Chrysler and Ford, and is responsible for part of the assembly of some of the Detroit carmaker’s limited production vehicles.

According to Automotive News, Saleen’s board has set a tentative timetable to receive preliminary indications of interest from prospective parties over the next two months and plans on finalizing a transaction early next year. In 2004 controlling interest was sold to investment group Hancock Park Associates in an effort to raise capital, however there were reportedly a number of major conflicts within the company, mostly between the Saleen family and the new management board.

The company has faced a number of hurdles since then, having lost its founder Steve Saleen last year and CEO Paul Wilbur in August of this year. September saw additional departures of many senior officials and a freeze on production of many major product lines. Saleen has also started selling its office and factory equipment in a clearinghouse style auction, with more than 20 brand new 2008 Mustang GTs, tools, cabinets, office equipment, and factory machinery all going under the hammer recently.


http://www.motorauthority.com/saleen-automotive-looking-for-buyer.html

http://www.autoblog.com/2008/08/08/chris-theodore-named-as-new-ceo-of-saleen-inc/
 

·
Registered
Joined
·
6,693 Posts
hard to sell new cars when there are lots of gt 500s and PJ saleens sitting on lots unsold..
 

·
Registered
Joined
·
2,443 Posts
Anybody know the story behind Steve leaving the company bearing his name? I've been unable to find anything about it, other than the fact of his resignation.


Well, seems this also puts-to-rest the rumour of a possible sale of Chrysler's "Viper Unit" to Saleen Automotive...........
 

·
Registered
Joined
·
1,011 Posts
I tried purchasing a super street cage a few years ago and tried calling Saleen and a guy did answer but it was a story everytime. Oh we are in the process redesigning it and it will be done within a couple months. I called back in a few months and it was in a couple of weeks and then I said forget it and went with someone else. But from what he said he was a sales person for them and took it over and it was called somthing else I cannot remember the name but he was selling the same stuff. But I am not surprised about them because the way I was treated. It seemed like there was no motivation to sell its to bad because they made good stuff.
 
1 - 6 of 6 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top