Tag Archives: Hagglund

Jan Åke Jonsson Says Saab Automobile Need Funding Now

Posted on 30. Jun, 2009 by .

0

ttela.jpg

TTELA reports that Saab Automobile needs money, quickly because they are currently in-between owners GM & Koenigsegg and funding for existing operations is running out.

Furthermore, the European Investment Bank loans apparently won’t be able to be granted until September 22nd, unless they can make an earlier board meeting with the EIB in late July. Those EIB loans also, cannot be used for existing operations, only future product and innovations.

Here’s the article below, loosely translated by Google Translate.

Saab must have money – quickly

Saab Automobile could produce and sell more cars today, but it lacks money.

– We could go up in output relative to the orders we have, “says Saab-Jan Ã…ke Jonsson to the Göteborgs-Posten online.

Now Saab is trying speed up the process surrounding the loan of approximately SEK 4.6 billion by the European Investment Bank (EIB), to try to get the money earlier.

There have otherwise talked about a possible payment after September 22. Only then would the EIB’s Board of Directors to take decisions. In August has been no board meeting and the July meeting, we do not have time to fully consider Saab’s loan application.

– We work with the EIB to see if we can not move the decision until July. We have not excluded it. We do not have the opportunity to adapt our operations because the money is insufficient, “said Jonsson.

Today mounted only one hundred cars a day in Trollhättan, a very low production. Without money contributions, it will remain there.

The EIB process is also the state an important negotiating partner. EIB require government guarantees and the conditions of those negotiating with Saab Riksgälden on.
[…]

Continue Reading

Swedish Government’s Enterprise Minister, Jöran Hagglund Says Saab Has 3 To 5 Serious Bidders

Posted on 02. Apr, 2009 by .

0

Dow Jones Swedish Correspondent, Ola Kinnander, indicates in a dialogue with Jöran Hagglund, (the Swedish Government’s State Secretary who is fighting for Saab Automobile’s success) that Saab Automobile has 3-5 serious bidders.

What is interesting about this is that back in December we heard that there were 3 bidders from Jan-Ake Jonsson, then later we heard about 5, then recently 6-8 and then from the union IF Metall, 10!

I am beginning to be less interested in the number of bidders and more interested in who they are already.

Here is the piece below from tMr Kinnander of Wall Street Journal:

Sweden Government Official: 3 To 5 Serious Bidders for GM’s Saab / Dow Jones

By Ola Kinnander ? April 1, 2009

STOCKHOLM – Saab Automobile AB, which owner General Motors Corp. is trying to sell, appears to have attracted between three and five serious bidders,
but its chances of survival remain uncertain, a senior Swedish government official told Dow Jones Newswires Wednesday.

He also said the Swedish and German governments have discussed the possibility of merging Saab and Opel, another troubled GM unit, but
decided such a deal wasn’t feasible.

Saab in recent weeks has said that about eight parties have expressed interest in potentially taking over the Swedish car maker.
Joran Hagglund, a state secretary in the Swedish Enterprise Ministry who is the government’s main liaison with the auto industry, said in an
interview that he suspects some rival car makers may signal interest in Saab simply to gain access to its books and research and development plans.

The picture may clear up in a couple of weeks, and then it may show that “between three and five” parties are seriously considering investing in Saab, he said. However, Hagglund doubted whether this interest would be enough to save Saab once GM cuts its ties. “It would be very nice” if Saab could survive, he said. “But the signs point the other way. The auto industry is in free fall. There may be no strong buyers.”

Potential buyers likely can soon choose between several car companies in crisis. “The question then is, does Saab’s concept fit into an interested party’s ideas? I can’t answer that, other than to say that it looks grim,” he said.

Saab in February filed for bankruptcy protection, similar to the Chapter 11 process in the U.S. Saab on Monday will meet with the reconstruction team and representatives of GM and Sweden in a Swedish court to decide whether the reconstruction period, which is set to expire next month, will be extended.

Hagglund said that since GM had paid almost all of the debt owed to Saab’s suppliers, he expected the court to approve Saab’s request for an extension for up to three months more.

He also said he thought it was unlikely that Saab and Opel, GM’s struggling German unit, would team up. The Swedish and German governments have discussed that possibility but “have pretty much concluded that … it’d be pretty difficult to find an owner who wants to go in and own both of these loss-making companies.”

Hagglund reiterated the Swedish government’s stance that it wasn’t interested in owning any auto companies.

Continue Reading

SVT Covers Industry Minister Olofsson’s Reponse To GM

Posted on 18. Feb, 2009 by .

0

Sweden’s SVT indicates that Industry Minister Olofsson is truly disappointed with GM’s Business plan and press conference indicating their inability to see this happening even two years ago for the Saab Automobile brand.

Here is a rough translation from SVT below:

“Trollhättan will build more cars’

-Irresponsible. It’s Industry Minister Maud Olofsson’s comment to the GM’s decision to release ownership of Saab.
Video

-GM takes his hand from Saab and say to the Swedish taxpayers that now it is your turn to pay. It does GM not in Germany, for example, she said to SVT’s Rapport.

Minister of Industry, now want to use the skills held by Saab to build something new. -We are not prepared to buy the car plants, “she says.

There is so much money, and uncertain whether it will make a profit.

Nutrition minister promises no specific aid package to Trollhättan. -Every time we are on a press, you want new packages: Our approach is to try to use the resources we have, “she says.

Under Secretary of State Jöran Hägglund (C), the other built in Trollhättan in the future.

-It is an important message to everyone in Trollhättan. The shorter the process, the better for all involved, “says Hagglund.

According to Hägglund, it would be more expensive to go into a holding in Saab than letting all Saab Employees go unemployed in 4-5 years.

When the Minister for Trade visited SVT’s Gomorron morning she said that she was “incredibly disappointed” at GM. She thinks that Saab’s American owners should take hold of their problems much earlier.
[…]

Continue Reading




Production Concept