Tag Archives: Economy Ministry

TTELA Reports: Spyker To Proceed To Next Stage

Posted on 15. Dec, 2009 by .

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According to TTELA, Spyker is to proceed to the next stage in the process to buy Saab Automobile.

General Motors’ process to sell Saab Automobile has taken another step. The European Investment Bank (EIB) and the government have received support to go in depth with one of the stakeholders.

– I know that the bank has given a name to work with and we have also begun to look at the candidate who is the main track, says Joran Hagglund, state secretary at the Economy Ministry, told TT.

For Saab to be able to get the loan from Bank of 400 million, approximately SEK 4.2 billion, the new owner must meet the Bank’s review. Government and SNDO review is to examine whether the state should provide the necessary loan guarantees.

– We will include an economic analysis and see where Saab will enter the business image of stakeholders. For us, the same requirements apply as before – the taxpayers should not suffer,” said Joran Hagglund.

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The GM Board Meeting Continues Throughout Tuesday

Posted on 01. Dec, 2009 by .

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Photo Credit: Saab History

Trollhattan’s TTELA news organization reports that the GM Board meeting will continue throughout Tuesday.

At some point later today there may be a statement issued by GM for the press according to their news relations officer Tom Wilkinson, but as of now, there has been nothing released. In addition, it is important to emphasize that GM wishes not to hold a press conference for questions & answers, only a press release or statement.

The delegation that is at the meeting, from Saab and the Swedish government are expected to be leaving Detroit Wednesday afternoon returning to Sweden later that night.

Here’s the piece below by TTELA.

Saab’s delegation leaves on Wednesday

Trollhättan, Sweden The Swedish delegation from the Economy Ministry and Finance Ministry, headed by State Secretary Joran Hagglund, is scheduled to return home from Detroit on Wednesday night.

It says press secretary at the Ministry of Industry, HÃ¥kan Lind.

This means that the Swedish government representatives have a full day in which to further meetings after that the GM board will present its final decisions.

How long Saab Director Jan Ã…ke Jonsson stays in Detroit depends on the situation.

– What time he goes home depends on the information coming. We keep some flexibility, “says Ms Gustav on Saab’s communications department.

The board of GM meet on Tuesday morning local time, late morning Swedish time, for a meeting expected to last all day.

Paul Akerlund, chairman of the IF Metall Club at Saab Automobile, describing the mood inside the Saab factory for the decision:

– Of course it is a bit tense. But I certainly think that there is relatively good, you can surely remember that just a week ago we were more or less excluded.
He perceives the noises from Detroit as positive.

– Yes, and you can understand so we have a bit over-hand information. And I think that GM’s willingness to try to find a new owner this is truly honest. Unfortunately, time is short but there are discussions and there are very positive.

According Akerlund are a few pieces of stakeholders that GM is in talks with.

Is it still possible that GM itself chooses to retain Saab?
– Excluded is not well but I personally would not believe it, but their traces on the sale is settled.

Akerlund believe in no news from GM until late in the evening or night.
– And then I guess that it has declared that it will continue the sales process.

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The Saab Automobile & GM Meeting In Detroit Is Underway

Posted on 01. Dec, 2009 by .

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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.

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TTELA Reports EU Closer To Saab Decision

Posted on 23. Nov, 2009 by .

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Trollhattan, Sweden’s TTELA reports that the EU Commission is getting closer to completing the Saab sale to the Koenigsegg Group.

Here is their report below translated by google.

EU closer Saab Decision

TROLLHÄTTAN A decision by the EU on Saab’s loan application will be closer, since the Ministry of Industry of the week provided the Commission with additional information.

Since the documents are submitted in both Wednesday as Thursday, the commission may now be obtained throughout the support you need to take a decision in the Saab case.

– We hope so, but we’ll see. We have done everything we can to expedite this matter, “says Bengt Wenner Stein, scientific councils of the Economy Ministry.

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