Tag Archives: Major

Saab Transaction To Be Completed By End of October

Posted on 04. Sep, 2009 by .

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Photo Credit: Stefan Bennhage / TTELA

The Saab-Koenigsegg transaction is to be completed by the end of October says, Saab Automobile AB Managing Director, Jan-Ã…ke Jonsson in an interview with TTELA.

This news coincides with what the European Investment Bank told Saab History just a few weeks ago.

Saab Transaction Completed By The End of October

The new Saab owner Koenigsegg Group’s financial strength has been a major issue, since Christian von Koenigsegg, a few weeks ago made it clear that they lacked in the order of three billion U.S. dollars to finance its business plan for Saab.

Then, the team have been using both the old and the owner of GM as the Swedish government to close the gap, which is widely interpreted as to Koenigsegg does not have the financial strength to implement the deal.

But much now suggest that rather The move was an attempt to tough bargaining tactics, an attempt to get the government to make additional loans. For now, just two weeks later, it suddenly sounds like Koenigsegg Group actually has the required funding.

Tell me about their plans
It was in any case, the message that Saab’s Managing Director Jan Ã…ke Jonsson brought with him to Major Supplier Day in Södertälje yesterday.

– Since we identified this gap (in funding, prepared notes) for two 2.5 weeks ago, we have worked extremely hard with the new owner, with GM and with other stakeholders to resolve this. And I can say that we are now very close to having all the funding, “said Jonsson.

According to the Saab CEO will also new owner finally go out publicly and talk about their plans and how the funding looks.

– I am convinced that within a few weeks can go out and communicate this, “said Jonsson.

The approximately three billion taken in funding is a result of Saab’s business more onerous compared to the plan from Saab in the spring.

A focus on ownership
It states, in turn, be due to the new owner Koenigsegg want to make bigger and faster investments in environmental technology.

– They have a slightly more conservative view on volume and margins, but would speed up environmental efforts, “Jonsson said about how the business plans were changed.

Saab’s CEO is now a view to the change in ownership between GM and the Koenigsegg Group to be completed by 31 October.

This implies in turn that the funding actually dissolves, and the Debt Office, the government and ultimately the European Investment Bank (EIB) has not put spokes in the wheel for the loan of just over four billion kronor Saab need.

Clearance from the EIB is expected October 21.

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Saab Automobile Suppliers Want Koenigsegg To Speak Up

Posted on 01. Sep, 2009 by .

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Saab Automobile suppliers want Koenigsegg to emerge from the silence and share their details about how soon they will be paid for their work.

As it stands right now, there are payments back to suppliers that are taking over 2-months, which is completely unacceptable and puts these suppliers at the risk of bankruptcy which in turn would create problems for Saab’s production.

Here’s the piece from TTELA once again about this situation, roughly translated.

“Time to crawl out of the bushes” Subcontractors call for information from Koenigsegg

The subcontractors that work with Saab in Trollhättan can no longer hear the silence from Koenigsegg as they are not giving answers to questions about Saab’s business plans and financing, writes SvenÃ¥ke Berglie, president of Automotive Component Group, in a debate article in Dagens Industri.

– No company is willing to risk their money, “says SvenÃ¥ke Berglie.

Two weeks ago, Vänersborgs district court’s decision to end Saab’s reorganization. It also meant that suppliers were no longer guaranteed to get paid by the Saab out of the box. Now it is instead about payment periods of 60 days or even longer. For subcontractors, this implies a risk. During the reconstruction period was the Saab protected from bankruptcy, but now there is a potential threat of bankruptcy and when you are under contract, but payments on its debts.

Suppliers’ association Vehicle Component Group has recently demanded answers from Saab buyers Koenigsegg on Saab’s finances, but received no response. Buckling question is whether the Saab has a financing solution that the company can pay its bills.

РWe have invited them to Major Supplier Day, but not even received a reply, telling Sven̴ke Berglie.

By contrast, Saab’s managing director Jan-Ake Jonsson on FKG’s big conference where vehicle manufacturers and suppliers meet. But it is the owners who FKG want answers.

Yesterday was increased tone when FKG’s chairman Christer Palm and SvenÃ¥ke Berglie in an article said that the suppliers are beginning to doubt the Saab’s ability to pay. There are too many questions unanswered, they consider. Among other things, the case of Saab and Opel’s collaborations in the future, was the Saab 9-5 convertible and is produced and where the capital will come.

It is not sustainable to deliver in small volumes and credit periods of up to 78 days is not acceptable, writes Palm and Berglie.

– Suppliers wonder how safe it is, “says Berglie.

Large suppliers can acquire assets of several million crowns towards the Saab with just a few days’ supply. There is a high risk and too many questions about Saab’s future for the subcontractors.

– We’re not naive, some plans may not disclose, said Berglie.

But under these conditions should Koenigsegg to calm markets and provide more information, feel Berglie. He points out that most of a Saab car is produced by subcontractors. Saab is dependent on “full support” from the subcontractors for the company to survive.

– It’s time to crawl out of the bushes, “says Berglie.

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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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Saab History Visits “Saabs @ Carlisle” – 5.16.2009

Posted on 18. May, 2009 by .

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This past Saturday, May 16th, 2009, I managed to get down to the annual Saab show in Carlisle, Pennsylvania “The State of Independence” with a colleague of mine’s new 2008 9-3 2.0T SportCombi.

The Saab show, launched by the Central Pennsylvania Saab Club 10 years ago was apparently suggested by the local Opel club 10 years ago this weekend. This suggestion to have Saabs placed in the show adjacent to the Opels would make some good sense, since professionally speaking, Saab have partnered with Opel in development for the past 15 years or so. Having Opels & Saabs at a car show, alongside each other made logical sense. Since then, the incremental growth of the Saab show at the event over the past 10 years has been outstanding. It was to be expected that this year, over 200 vehicles turned out, making it another record attendance.

While the weather was variable, the rain held up throughout the day during my visit and as a result, I had quite the time getting to take more of an in-depth experience since my first visit, a whole two years ago when the Saab USA Heritage Collection was present.

As I circumnavigated the Highways, Streets, Roads, Avenues, Vistas and other developed marque designations for Saab models, I got to see a nice variety including just about every production Saab production model. I also explored other manufacturer’s camps this year including Saab’s Swedish sister, Volvo. In speaking with them, they said, they continue to be surprised by just how many Saabs show up year after year without fail. I told them, that these people are devoted so much that they may break another record this year of attendance, even when the future direction of Saab Automobile has been uncertain for the past year.

There were also many dealerships involved this year, three this time including an independent and Saab History sponsor, Swedish Motor Cars of Washington, D.C.!

I have said it before and I will say it again, it is clear that the the “SAAB” presence far outweighed all other marques on the lawn that day the sheer square footage that was designated as “Saabs @ Carlisle”.

Unlike my previous visit two years ago, I managed to visit the vendor spaces that included those specifically selling a plethora of SAAB parts, accessories, product literature & toys. One of the vendors showed up for the first time this year, where I managed to acquire an incredible amount of never before seen videos and other television advertisements, stay tuned!

Throughout the event, the photography, conversing with colleagues, and all other activities were great, however the memorable experience this year was the tribute to Bob Sinclair during the lunch hour where we gave a moment of silence.

I hope that this summary and photographs best captures some of the major Saab highlights as well as the other key aspects of the Saabs @ Carlisle event this past Saturday, May 16th, 2009.

This second visit was very good and I am glad that I had the opportunity to attend it.

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2009 Saab Owners Convention Update – 3 Great Auctions

Posted on 15. May, 2009 by .

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The 2009 Saab Owners Convention news has just arrived once again, this time we’re covering the auctions.

Take a look below!

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Announcing 3 Great Auctions

at the 2009 Saab Owners Convention

.and here’s how you can participate:

Auction #1 – Parts & Memorabilia.. Friday Evening Aug 14th – This is the warm up to the major Saab Vintage & Classic Car Auction. You can donate or consign rare and interesting parts and memorabilia to be auctioned (most interesting items will be auctioned live) as a Rocky Mountain Saab Club (RMSC) convention benefit to help defray the expense of hosting the 2009 Saab Convention.

Have you got Saab signs, posters, accessory items, performance parts, etc gathering dust in your shop? Bring all your stuff to Copper Mountain in
August, but let me know what’s coming for my listing. Or send it to me ahead of time if you wish.

Auction #2 – Vintage & Classic Saab Cars…. Friday Evening Aug 14th – This is the major Saab Vintage & Classic Car Auction. You can consign interesting
cars, with a small fee and commission going to the RMSC to help defray the expense of hosting the Saab Convention. Have you got any model 93, 95, 96 or
Sonetts in great condition? Or any special models like 99 EMS or Turbo, 900 SPG, or race/rallye prepped cars? The minimal consignment fees and sales
commissions will be posted on the SOC09 Web pages. This auction is a new event for Saab conventions. We expect heated bidding, and it should be a lot of fun with hundreds of passionate Saab folks in the audience.

Auction #3 – John Moss Charity Auction…. Sunday Morning Aug 16th – This is the traditional Saab parts and memorabilia auction conducted at every Saab Convention in recent memory by John Moss. John does a superb job of raising money for a local charity with his colorful description of each item he brings to the block. Not to be missed!!
[…]

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2010 Saab 9-4x Crossover Specifications Posted

Posted on 07. May, 2009 by .

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Photo Credit: Saab Automobile AB

The 2010 Saab 9-4x Crossover specifications have now been posted on GM’s website.

It looks like right now the colors available in this model come in the following, Switchblade Silver Metallic, Gold Mist Metallic, Imperial Blue Metallic, Black, Aqua Blue Metallic, Crystal Claret Tintcoat, Platinum Ice Tricoat, Ice White, Cyber Gray Metallic, Warm Mist Metallic.

For more details, please check out this adobe pdf document for the full details.

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Air bags, dual-stage, frontal, driver and right front passenger with passenger sensing system, Thorax side-impact, seat mounted, driver and right front passenger, head curtain, side front and rear outboard seating positions
1 – Head curtain side air bags are designed to help reduce the risk of head and neck injuries to front and rear seat occupants on the near side of certain side-impact collisions. Always use safety belts and the correct child restraints for your child’s age and size. Even in vehicles equipped with air bags and the Passenger Sensing System, children are safer when properly secured in a rear seat. Never place a rear-facing infant restraint in the front seat of any vehicle equipped with an active frontal air bag. See the vehicle’s Owner’s Manual and child safety seat instructions for more safety information.
Air bag Passenger Sensing System, sensor indicator inflatable restraint, front passenger/child presence detector
1 – Always use safety belts and the correct child restraints for your child’s age and size. Even in vehicles equipped with air bags and the Passenger Sensing System, children are safer when properly secured in a rear seat. Never place a rear-facing infant restraint in the front seat of any vehicle equipped with an active frontal air bag. See the vehicle’s Owner’s Manual and child safety seat instructions for more safety information.
Climate control, dual-zone automatic
1 – May be upgraded to (CJ4) with (PCK) Rear Passenger Package.
Armrest, front center sliding fore/aft
Armrest, rear center with dual cup holders
Audio system, AM/FM/XM stereo, single disc CD and MP3 player, Bluetooth phone interface compatible, voice recognition, auxiliary jack, Radio Data System (RDS), rear seat audio controls and 7-speaker center point system
Audio system with navigation, AM/FM/XM stereo, single CD/DVD player, 40GB Hard Drive Device, MP3 playback, Grace notes, HDD-based navigation, rear-seat entertainment compatible, rear-seat audio controls, iPOD support with digital streaming, media transport protocol, Bluetooth phone interface compatible, voice recognition, auxiliary jack, USB and Bose 5.1 Surround Sound 10-speaker system
[…]

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TATA To Design & Develop Next Generation Gripen Jet

Posted on 11. Feb, 2009 by .

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Photo Credit: Jonas Tillgren / SAAB AB

According to the press, Tata Consultancy Services, a division of TATA, who said they are not interested in buying Saab Automobile back on January 5th, 2009, will apparently be designing and developing the next-generation Gripen fighter jet for the Swedish Aerospace company, SAAB.

SAAB Technologies will be creating an Aeronautical Design and Development Centre (ADDC) in India which will allow them to save on costs. Evidently, according to SAAB Technologies CEO, Mr. Ã…ke Svensson, this collaboration will include more than just this project.

I guess this confirms Tata’s lack of interest in Saab Automobile as they will now have their hands full with SAAB Technologies next-generation Gripen Jet project.

Here is an excerpt of the news:

BANGALORE: Tata Consultancy Services (TCS) will design and develop the next-generation fighter jet Gripen for the Swedish aerospace major Saab,
a senior official of the IT bellwether said here Monday. Saab, whose strike fighter Gripen is in race for the Indian Air Force (IAF) order to induct 126 medium multi-role combat aircraft (MMRCA) in its fleet, has set up an aeronautical design and development centre with TCS in Bangalore for the multi-million, multi-year contract.

“As part of the contract, we will transfer technology and competencies in the aerospace sector to the TCS centre, which will play a key role in the development of the next-generation Gripen and other products,” Saab vice-president Kjell Moller told reporters here.

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Ahlgrens Bilar – Sweden’s Most Purchased Car

Posted on 29. Dec, 2008 by .

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Ahlgrens Bilar sold frequently at IKEA, is Sweden’s most purchased car. A congratulations to Lennart Hed for guessing the correct answer to the poll today!

I thought this was a nice pleasant topic given all of the news for Saab as of late.

Perhaps these could be sold at Shaw Saab given just how close they are to IKEA Stoughton?

Anyways, here’s the press release from Ahlgrens Bilar!

Ahlgrens bilar РSveriges mest k̦pta bil !

English Description:

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Ahlgrens is a former Swedish confectionery company. It was originally founded by Fredrik Ahlgren in the town of Gävle in 1885 as a store for paint and wallpaper, a business which was later extended to the production and sale of various types of chemicals, perfumes and other products. A mouthwash, introduced in 1908, was given the brandname Läkerol, a year later given to a pastille, which is still sold internationally in several variants.

The company was later bought, and the name Ahlgrens currently survives as a brand owned by the major Swedish-Danish confectionery corporation Leaf International.

The product still most closely associated with the brand is Ahlgrens bilar (“Ahlgren’s Cars”), sold since 1953 and marketed as “the world’s most sold car” (which is possibly technically correct, by number of cars). The small marshmallow cars are so popular within Sweden that stores that specifically cater Swedish tourists and residents in other countries have started selling them as well. In recent years the brand has been extended to other car- and road-related products, liquorice car tyres and sour road signs, the latter including the elk warning signs beloved by German tourists.

http://www.ahlgrensbilar.com/

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Production Concept