Saab Automobile AB’s 9 Days Until Reconstruction Ends

Posted on 11. May, 2009 by in 2000-2009

Saab Automobile has just 9 more days until this three-month reconstruction process will come to an end on May 20th, with a decision to be made about their future.

This process for reconstruction as indicated in the court documents officially began back on February 20th, 2009 at a press conference when Saab Automobile made the announcement just three days after GM publicly indicated their intent to offload the brand by December 31st, 2009.

At a cost of approximately $822 million dollars, this process was not cheap, however I am hopeful and optimistic that Guy Lofalk and the Saab Automobile AB reconstruction team worked hard to ensure Saab Automobile met their reconstruction objectives. These four reconstruction objectives involve insuring that the process completes, they are decoupled from GM, they produce products for their potential buyers and that once reconstructed, they will be stronger as a company moving forward than they were when they started.

In looking back at this process so far, Saab Automobile AB have managed to come through all of the checkpoints including the critical milestone of April 6th, where the Swedish court allowed them to cross over mid-review towards completion.

There are now just 9 days until the reconstruction process completes, and if the process does not need to be extended according to the time line, there will be an announcement, negotiations will commence between Saab Automobile AB and their new owner(s), financial control will and the equity will be restored for Saab Automobile AB as a newly independent company exactly as planned.

This week, Saab Automobile AB will be launching a new advertising campaign in their home market of Sweden this week, to indicate this new era of independence for the company.

The victory party will be taking place on July 17th through the 19th known as “Saab Days” in Trollhättan, Sweden.

I am excited about this process and it sounds like there is going to be a nice light at the end of the tunnel.

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