Tag Archives: Europe

Tretorn "Save Saab" T-Shirt Displayed At NYC's SOHO Store

Posted on 11. Feb, 2010 by .

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Photo Credits: PSFK

The website PSFK has recently taken some photos of the Tretorn “Save Saab” t-shirts that are on display at their retail store in New York City’s SOHO district.

Here’s the quote on their website covering the initiative.

“We noticed this flyer and t-shirt in our local Tretorn store in NYC’s SoHo district. Tretorn is based in Sweden and is one of the leading outdoor product manufacturers in Europe. They are showing support for their Swedish compatriot, Saab, with a campaign aimed at generating funds to support the company during its financial struggles. Nice.”

Tretorn & Saab History’s partnership that has been going on for nearly a month now, will conclude on the day of closing of the Saab sale, February 15th.

If interested in buying one of these limited run t-shirts before the program ends, please click on the banner ad above or this link..

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Saab History Confirms Spyker Statement Will Be Today

Posted on 26. Jan, 2010 by .

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Saab History has heard from Spyker Cars, PR company, PFPR in the U.K. that there will be a statement made today. It is quite probable that this statement will be made within the next few hours given that it’s getting close to the end of the day in Europe according to the Mike Stainton, of PFPR.

“I can confirm that a statement will be issued by Spyker today.”

Update: I have just learned from PFPR, the company Spyker uses that, that this news will make us happy. That sounds good!

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Genii Capital Plans To Submit Bid For Saab Today

Posted on 07. Jan, 2010 by .

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Saab History has confirmed through Bloomberg & TTELA’s interview, that Luxembourgh based Genii Capital plans for a bid to Saab Automobile by 5pm today.

Apparently, there is a Swedish entrepreneur behind the company and has been working on this for nearly a year to buy Saab. – It takes time to get all the pieces in place, “says the source according to TTELA.

Genii Capital is a private investment company that operates in North America, Europe & Asia. They specialize in development of innovative ideas in brand management, technology, entertainment and automotive industries. This past December they announced their intent to purchase the Renault F1 racing team.

When Saab History tried to contact them today, they were answered the phone, but were unable to comment as their spokesperson would not be available until Monday.

Here is a piece by Bloomberg below:

genii

Jan. 7 (Bloomberg) — Genii Capital plans to hand in a bid for General Motors Co.’s Swedish Saab Automobile unit today, Genii spokesman Lars Carlstroem said in a telephone interview.

Genii plans to use former bidder Koenigsegg Group’s business plan for Saab and make the automaker profitable by 2012 with production of 105,000 vehicles a year, Carlstroem said.

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Spyker Cars CEO In A Meeting Today With GM

Posted on 21. Dec, 2009 by .

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Victor Muller of Spyker Cars is in a meeting today with GM in Europe according to Sweden’s SVT. The meeting of course is to discuss the new revised 11-point offer letter sent by Spyker Cars to GM on Sunday.

The deadline that Spyker Cars have given to GM as part of the new offer, is 5pm EST, so here’s hoping a resolution is made and a sale is completed by the two parties prior to this deadline.

Spyker in a meeting with GM

December 21 2009, 14:44

Spyker are this afternoon in a meeting with GM about the new bid for Saab. This is confirmed by Spyker CEO Victor Muller to SvD.se. He is optimistic.
– If I didn’t think there was a chance, I wouldn’t be meeting with them, he says.

The interest surrounding Saab is building up steam again after Spyker submitted a new bid on Sunday. So far, comments from GM have been cautious, but Spyker CEO Victo Muller now confirms that talks are being held.

– We are in discussions with GM, he says.

Are they negotiations?

– They are discussions.

What reactions have you gotten from GM so far?

– So far we’ve only communicated in writing, but I’m actually going in to a meeting with them right now.

Where is the meeting?

– In Europe.

How do you assess the situation, is there a chance that your bid will be accepted?
[…]

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Eker Of Koenigsegg Speaks Out: GM Was Too Greedy

Posted on 19. Dec, 2009 by .

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Bård Eker. (Photo: CARL MARTIN Nordby Aftenposten)

Bård Eker of the Koenigsegg group who had to terminate their interest in buying Saab back in November finally speaks out, saying it was GM that was too greedy.

General Motors made it very difficult to buy Saab, says Bård Eker. -You can take a lung of a human body, but not all blood vessels, “he says.

Published: 18.12.09 22:51, Updated: 19.12.09 14:15

Yesterday afternoon we got the message that GM offers up to find buyers for Saab, and that they instead choose to discontinue all production. Bard Eker and Koenigsegg Group had talks with GM about the takeover of the automaker, but after months failed negotiations. Yesterday Eker told for the first time Aftenposten what he thinks went wrong.

-Do you think even that could have gone differently if you had not held on so long?

-It is easy to think that, but it is also foolish to think that. It is a little difficult, for it will never get answers to, “says Eker.

3400 employees in Saab loses his job as a result of the termination. But the closure will affect both the contractors and those who live by the activity Saab has added to the local community Trollhättan, where it lives a total 46,000 people. Total estimated that there with that over 8,000 workers in western Sweden will lose his job as a result of the closure.

“We can only hope that something good comes out of it. Not least for the workers working on Saab, for it is them I am most worried about now, “says Eker.

Actually, should the agreement between the Koenigsegg Group and GM have been clear in the summer. But the Swedish-Norwegian investor team gave up three weeks ago after negotiations still went out in time and it was difficult to predict when the transaction could be completed.

-Saab was never structured as a subsidiary, it was something you bought and swallowed into the great GM-body. It is clear that it is very difficult to pull out. You can take a lung of a human body, but not all blood vessels. There was a contributory factor in that it took longer for us also. They had not done the necessary procedure before they went into dialogue with a potential buyer.

In addition, the Koenigsegg struggled to get GM to fix prices on parts for Saab cars.

-What we did wrong was that we were open about the business plan. At first no one believed it, but as they began to believe in us, the guys started to get greedy. GM would be better paid for the parts and the Chinese would have more money. It was the final straw. Then began greed to become so dominant that we could not take more, “says Eker told Aftenposten.
[…]

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Official Press Release: General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab

Posted on 16. Jun, 2009 by .

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General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab.

Finally, official confirmation!

General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab

# Deal will secure Saab’s future
# EIB expected to provide $600 million financing with state guarantee by the Swedish government
# GM reinvention achieves another milestone

Zurich. General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab’s future.

The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab’s operations and product program investments. This includes plans to launch several new products that are in the final stages of development. Saab had filed for reorganization under Swedish Law on Feb. 20, 2009. This tentative agreement is a key milestone for Saab to successfully emerge from its reorganization process.

“This is yet another significant step in the reinvention of GM and its European operations,” said GM Europe President, Carl-Peter Forster. “Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company. Koenigsegg Group’s unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg’s proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for General Motors.”

As part of the proposed transaction, GM will continue to provide Saab with architecture and powertrain technology during a defined time period. Additionally, Saab plans to produce its next generation 9-5 models in the Saab production facility in Trollhättan, Sweden.

“The proposed agreement will enable us to maximize the brand’s potential through an exciting new product line-up with a distinctly Swedish character. Today’s announcement is great news for Saab’s current and future customers, dealers, suppliers and employees around the globe, said Jan Åke Jonsson, Managing Director of Saab Automobile AB.

The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale are not being disclosed at this time. Deutsche Bank acted as financial advisor to General Motors Corporation.

General Motors Corp., one of the world’s largest automakers, was founded in 1908, and today manufactures cars and trucks in 34 countries. With its global headquarters in Detroit, GM employs 235,000 people in every major region of the world, and sells and services vehicles in some 140 countries. In 2008, GM sold 8.35 million cars and trucks globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM’s largest national market is the U.S., followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. In Europe, GM sells its vehicles in over 40 markets. It operates 10 vehicle-production and assembly facilities in seven countries and employs about 50,000 people. More information on GM can be found at http://media.gmeurope.com and http://www.gmeurope.com. GM Europe executives blog at http://drivingconversations.com.To support informed discussion and fact-based reporting, GM and Opel & Vauxhall have launched a new website at http://gmeuropefactsandfiction.com.

Koenigsegg Group AB is a consortium of private investors led by Koenigsegg Automotive AB. Koenigsegg Automotive AB manufactures supercars. It has representatives in Africa, Asia, Europe, the Middle East, North America, and the Oceania. The company was founded in 1994 and is based in Ängelholm, Sweden.

CONTACT(S):

GM Europe
Chris Preuss
+41 44 828 25 00
jchristopher.preuss@gm.com

Saab Automobile AB
Eric Geers
Tel: +46 (0) 520 27 97 97
eric.geers@gm.com

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2009 Saab Owners Convention Newsletter Update

Posted on 04. Jun, 2009 by .

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The folks managing the 2009 Saab Owners Convention have provided their latest newsletter here.

The event is now just 2 and a half months away, so register today!

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Welcome Saab Enthusiasts!

Our host Rocky Mountain Saab Club of Colorado welcomes you to the 2009 North American Saab Owners Convention held at Copper Mountain Resort, Colorado.
[…]

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Fiat Considering To Partner With GM Europe?

Posted on 20. Apr, 2009 by .

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The Motor Authority & “Hotstocked” are reporting that Fiat, the company that got away from Saab Automobile back in 1989, is back in the news again this week. Apparently, Fiat is planning on partnering with GM Europe in addition to their attempts to partner with Chrysler in case that goes south.

I am interested in this news because it sounds like the original story I heard back in January about GM Europe forming a new auto group with Fiat.

What is interesting about this is that the Motor Authority says that the partnership will not include Saab. I sure hope they are wrong as I’d like to see Fiat partnering with Saab, even though it’s 20 years too late. Furthermore, I wonder who their “source” was that provided this information. What do you think?

Here is Motor Authorities quote:

While Fiat and Chrysler are desperately trying to secure an alliance here in the United States, the Italian side of the duo is also reportedly considering an alliance with General Motors’ core operations in Europe and Latin America. If all goes ahead, a merged Fiat and Chrysler, along with the GM operations, would become the world’s second-largest auto group.

The latest information comes from a source familiar with the matter, who revealed to Automotive News that talks between Fiat and GM are in the early phase and are not an alternative to Fiat’s ongoing negotiations with Chrysler. The GM operations involved would include the Opel and Vauxhall brands in Europe and GM Latin America in South America. Not included is Saab and Chevrolet’s European operations.

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