The Saab Automobile & GM Meeting In Detroit Is Underway

Posted on 01. Dec, 2009 by Ryan in 2000-2009

The primary meeting between GM and the Swedish Government at the Rennaissance Center in Detroit, Michigan is taking a while, so the 13-member GM board meeting is going to be starting a little later than planned, according to Sweden’s Expression.

It should also be known that once a determination is made, GM will not be doing a press conference where questions & answers can be made, instead they will be issuing a press release according to Tom Wilkinson, GM’s Press coordinator. I’m not sure what to say about that.

Here’s the piece below from Swedish Radio, translated.

The meeting with the GM people were booked for 23 o’clock Swedish time, at GM’s headquarters. In the official Swedish delegation, there were five people, including Joran Hagglund, State Secretary in the Ministry of Industry.

In addition, Jan Ã…ke Jonsson, Saab-head, in Detroit. Although he hits GM’s management and at least one party.

GM’s press officer Tom Wilkinson told TT that GM will not have a press conference in conjunction with the Board. If something new comes out that GM will be sending out a press release, according to Wilkinson.

Meanwhile in Trollhättan representatives from Chinese BAIC to review Saab technology.

Who would participate in the Swedish meeting with GM management would not say Frank Nilsson. Nor what was the Swedish message more than the desire to get the proper opportunity to present their views and clarify what the Swedish government can do and can not do.

Hit by GM management was before the meeting that GM’s board would later start and where it might be a decision on the Saab. Closures, new sales process or maintain the issue.

The meeting was held in the huge Renaissance Center – the skyscrapers in the middle of Detroit, where GM has its headquarters. So far, even Saab’s U.S. office there.

13 people are included in the Board. Four are appointed by the U.S. government, which owns around 60 percent of GM. A delegate of the Canadian government, which also has a stake after GM’s reorganization.
They have Saab’s fate in their hands.

- I hope they take the time to familiarize themselves with everything so that it becomes a business decision based on facts and nothing to rush for years to keep a deadline, “said Kjell ac Bergstrom, CEO of Saab Automobile Powertrain, which was involved in producing the base, which Saab Chief had with them.

Among those said to have retained an interest group covers Chinese Beijing Auto (BAIC), which was intended as part of the Koenigsegg Group.

According to information provided to TT technicians came from BAIC to Saab in Trollhättan, as late as Sunday, to continue to see the technology and intellectual property company wants. BAIC has plans to produce older models of Saab in China.

While Beijing Auto’s CEO Wang Dazong suggested continued purchasing interest, he stated that the company does not need a new plant, reported Reuters.

Merbanco investment bank based in Wyoming would also continue to be in the match. The company’s CEO Christopher Johnston has confirmed to several media that you can think of a purchase, but believes that the Swedish government should provide more support.

Renewed speculators is also stated U.S. financial group Renco Group to be.

Among the group that the government and GM management is expected to discuss before the board meeting started was also to find out more about speculators and talk about the government’s ability to provide state guarantees. The process of EIB loan need not be taken on a new Saab Owners.

- The more you can use the previous plans, the faster it can go, “says Bengt Wenner Stein, scientific councils of the Economy Ministry.

GM’s board meeting resumed on Tuesday morning, local time. When the decision is taken on Saab is not known. It may come as early as after Monday’s meeting. It can also delay the meeting until the entire course.

Tags: Automotive Component Group, Canadian government, Economy Ministry, financial, interest, Investment Bank, Ministry of Industry, Renaissance Center, Rennaissance Center in Detroit, Swedish Government, U.S. government