Tag Archives: manufacturing

Company President Is Pleased With New Headquarters

Posted on 21. Mar, 2010 by .

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Photo Credit: David N. Posavetz / Daily Tribune

The Daily Tribune has recently visited the new headquarters for Saab Cars North America in Royal Oak, Michigan.

Here is the article below and keeping with the current trend, I will not be editorializing this article.

Company president is pleased with new headquarters.

ROYAL OAK — Mike Colleran, president and COO of Saab Cars North America, looked at hundreds of buildings for a new headquarters, sometimes not knowing if the company “born from jets” in 1937 would survive the automotive downturn.

It was a long and bumpy road from the towering General Motors offices at the Renaissance Center in Detroit to a one-story gray structure in a suburban industrial district.

However, the Saab saga has a happy ending with a new era and tagline — “move your mind” — unfolding in the surprisingly sleek interior of a renovated warehouse at 4327 Delemere Court.

Sitting behind his blond desk with a single line of paperwork stretching neatly from top to bottom, Colleran described the tumultuous time for the Swedish-based company’s 3,400 employees worldwide, including the few dozen who handle sales, service and marketing in Michigan.

“It was a rollercoaster ride, no question about that,” Colleran said in an office where photographs of Saab cars wait to be hung on white walls. “It started in late 2008 when GM announced a strategic review of the Saab brand.”
[…]

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Alix Partners Member Part Of Original Reconstruction Team

Posted on 08. Jan, 2010 by .

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Stephen J. Talyor of Alex Partners has been indicated by Sweden’s Dagen’s Industry as being part of this team to “wind down Saab”, but on the other hand strangely enough, he was also part of the reconstruction team last year to “Save Saab”.

This is really getting quite strange indeed.

Here’s a bio about Stephen Taylor

taylorStephen brings over twenty years of experience as a specialist in international business recovery and insolvency, serving clients across Europe, the Middle East, and Africa. His industry expertise includes textiles, manufacturing, retail, and real estate. He also has experience in various Asian markets.

Prior to joining AlixPartners, Stephen was the Eurofirm Business Recovery Leader at PricewaterhouseCoopers. In that role, he assisted clients by analyzing their market positions and cost structures, determining appropriate benchmarks and milestones, negotiating debt and capital structures, and identifying both quick wins and longer-term strategies. He is well known for challenging orthodoxy in the search for better solutions, and strongly believes that the traditional approaches found in many European countries are sub-optimal for ailing companies and economies. He led some of the first corporate cases under the European Insolvency Regulation to arbitrage the differences in bankruptcy law between the countries of Europe. He has also advised international political and financial institutions on the development of best practices in the field of insolvency and business recovery, including The World Bank Group, The European Commission, the Commonwealth Development Corporation, and several governments.

A frequent speaker throughout the world, Stephen is the author of the chapter on international insolvency in the Handbook of Credit Management, and a contributing editor to both Kluwers International Corporate Rescue and the Global Restructuring Yearbook (Euromoney). He is also a consulting and contributing editor for the latest edition of the highly successful European Restructuring and Insolvency Guide (White & Page) published in 2005.

Stephen is a Fellow of the Institute of Chartered Accountants in England and Wales, a Fellow of the Association of Business Recovery Professionals (R3), and is a member of the American Bankruptcy Institute, INSOL Europe, and INSOL International. He holds a bachelor’s degree in music with honors from the Royal Holloway College, London University.

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Genii Capital Group & Bernie Ecclestone Bid On Saab

Posted on 07. Jan, 2010 by .

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Genii Capital Group’s press release just received via e-mail to Saab History as we’ve heard about earlier.

What’s interesting is that this press release does not tell us that they’ve been behind the program for a year here as previously reported, nor does it tell us who the Swedish Entrepreneur is behind the scenes.

Genii Capital Group & Bernie Ecclestone Bid On Saab

Luxembourg, January 7, 2010

Genii Capital announced today that its interest in making an offer for the acquisition of a majority stake in Saab SAS in a partnership with Mr. Bernard Ecclestone.

Genii Capital – which has been brought into the bidding process at a late stage by advisors close to the deal – has decided that given an adequate and short timeframe for finalizing its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.

The investment group which has diverse investments and a strong knowledge of the automotive industry believes that it can add value to the car manufacturer by working on synergies with some of its portfolio companies in the areas of energy efficient engines, OEM components and on-board IT and media technologies – including pay per listen/pay per use systems.

Genii Capital believes that the automotive industry will see – as expected – strong developments in energy efficiency, safety systems but also in the area of on board entertainment systems including technologies that enable use on demand systems as well as innovative communications platforms such as VOIP and GPS location based services. All of these areas being at the core of Genii Capital investment focus.

The group believes that SAAB has a tremendous brand value in a number of key automotive markets as well as an innovative image allowing it to be at the forefront of the car companies that will be first to market with some of the above mentioned technologies.

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About Genii Capital

Genii Capital is a private investment firm that places common sense and business sense at the heart of the investment decision-making process while targeting solid performance. Genii Capital’s investment philosophy is to create value by investing in ideas, brands and projects that are innovative and often disruptive to their business environment. Active in North America, Europe and Asia, Genii Capital’s core investment target areas include brand management, emerging technologies (including public health, energy and environmental technologies), hospitality, entertainment and the automotive industry, including: Renault F1 Team; MOV’IT – a highly specialized high performance brake systems design and manufacturing company; and MCE-5 – a variable compression ratio engine technology.

For more details, please visit http://www.genii-capital.com/

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Spyker Cars Is Said To Be Favorite Amongst Bidders

Posted on 11. Dec, 2009 by .

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Photo Credit: Spyker Cars

According to TTELA, Spyker is said to be the favorite candidate out of the parties interested in buying Saab Automobile.

Here’s the article below, loosely translated.

Spyker said to be favorite

TROLLHÄTTAN – Updated 18:09 – Spyker Cars pulls up in pole position when General Motors is now close to deciding for whom to negotiate with the end to buy Saab Automobile, said a source told news agency TT.

According to the stakeholders that GM will be under way to choose an operator who has experience in automobile manufacturing, but on a smaller scale. It should not be a new name, but a company that has omskrivits for their interest.
The data suggest that the Spyker Cars is GM’s favorite.

The company reported discussing buying Saab in its entirety. The plans are to pursue a full-scale car production in both design and development and manufacturing in Sweden.

After GM’s board last week gave Saab a deadline to the end to find a potential buyer walked Spyker Cars spokesperson out and confirmed that it held talks with GM.

The Dutch company has several similarities with the Koenigsegg Group, who surprisingly dropped out of the store for just over two weeks ago.
Like the Koenigsegg is a small loss of weight sports car manufacturer. Spyker produces around 50 super-luxury sports cars per year. Over the past five years, the listed company has gone back every year. Last year, landed the loss of 23.8 million euros, equivalent to 250 million.

Spyker is behind the Russian financier Vladimir Antonov – which is a major shareholder in a Russian and a Lithuanian bank. There are also Arab interests through Mubadala, an investment company from Abu Dhabi, which saved the company away for bankruptcy two years ago.
Spyker Cars has today 135 employees at its facility in Zeewolde in the Netherlands. But in November the company announced that production at the end of the year should be transferred to the subcontractor CPP in Coventry in the UK cost-cutting.

From Spyker Cars is one with scant comment. Mike Stainton, the public relations company PFPR Communications, which handles media relations, neither confirm nor deny if Spyker entered deeper into negotiations with GM.

– I can not give any information about how the negotiations go, “he says.

But he insists that Spyker is still interested in buying the Saab Automobile.

– The statement from last week in which Spyker Cars confirmed to be agreed with the owner Convers Group has expressed interest in Saab, has not changed, “says Mike Stainton.

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Koenigsegg Group Backs Out Of Saab Purchase From GM

Posted on 24. Nov, 2009 by .

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Photo Credit: TTELA

Reuters, CNBC & the local, ABC News, Wall Street Journal, Washington Post all now report that the Koenigsegg group have backed out of the Saab purchase agreement with General Motors.

Here’s a quote from Christian Von Koenigsegg in the Wall Street Journal:

“We regret that after six months of intense and determined work we have come to the painful and difficult conclusion that we are unable to complete the acquisition of SAAB Automobile,” said Christian von Koenigsegg, founder of the Swedish carmaker.”

[…]

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Pininfarina Added To Swedish Investment Group

Posted on 05. May, 2009 by .

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Saab History has just received official confirmation from the Swedish Power Circle investment group about Pininfarina being added to their development group.

This development group has plans to work with Innovatum, Vattenfall (Sweden’s Energy provider), the Norwegian Government on the Think Electric Car project as well as Pininfarina now.

I mentioned this group back in March, but did not have much more substantial details, but now I do in a well detailed 12-page document.

It is interesting to hear Pininfarina, because they too much like Fiat, are an Italian automotive development group, I wonder what will happen now with the Fiat interest in GM Europe operations as well?

This is starting to look quite complex, but in terms of support, it seems like Saab Automobile will be very well funded given the news as of late with all of their future development plans including what’s on schedule in this outline below. Extremely exciting projects down the road, don’t you think?

· Sweden has already a very good infrastructure base for electric cars installed in practically every single family home allowing even fast charging in private homes. In addition. Sweden has many electric outlets for engine heaters and the distribution with intelligent control systems will be sufficient even for large-scale penetration of electric cars.

· The demo site project opens for a substantial market push for EV:s. The electric utility companies are prepared to support the introduction. They are also prepared to develop new business models for the charging and easy use of EV:s.

· Competition in the area of EV:s basically comes from a number of smaller companies, even though a change could take place already within a couple of years.

· One of the leading small companies, Think A/S, could be integrated and bring Sweden in a lead position in this segment. In a short time, the Think platform can also be used for other applications.

· Think A/S has given a clear message: we are prepared to move the production, design and headquarter to Sweden. The same message has been delivered to the UK, where the Government has given a first positive response. The Swedish well established subcontracting network has been appreciated by Think. The Swedish demo-site projects are also attractive elements for Think. (See further a separate document delivered by Think A/S). To secure such a move to Sweden it is necessary to act within the framework of 3 – 4 weeks from the beginning of March 1, 2009.

· The competence, the innovative traditions and manufacturing capabilities in Trollhättan/Uddevalla are well suited for starting manufacturing of electric vehicles. For the next years a manufacturing capability of […]

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The Saab Automobile AB Reconstruction Team

Posted on 15. Apr, 2009 by .

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The Saab Automobile AB Reconstruction team was appointed by judge Cecilia Tiselle at the Vänersborgs court on February 20th, and include four people directly responsible for the future of the company.

It should be known that the details of this reconstruction process does not actually involve the Saab Automobile AB Management board nor the Swedish Government, it’s just the reconstruction team themselves.

I am hopeful that this team will pull it off, they’ve already met the April 6th milestone according to court documents, and so it seems there is a good chance that they will meet May 20th’s as well unless they feel they need an extension.

Here are some brief summaries of the team for our reference.

Jan Ã…ke Jonsson – Saab Automobile CEO.

Jan Ã…ke Jonsson, Saab Automobile AB President since 2005 continues to lead the company through reconstruction.

Experience:
2005 – Managing Director of Saab Automobile
2002 – 2005 Sales & Marketing, Europe and Asia-Pacific, Saab Automobile
2002 – 2002 Executive Director and Vehicle Line Executive, Commercial vehicles, GM Europe
1997 – 2002 Vehicle Line Executive, Trucks/Vans/Mini-segment, GM Europe
1995 – 1997 Director, Business Unit 9000/9-5, Saab Automobile
1993 – 1995 Vice President, Quality and Customer Satisfaction, Saab Automobile […]

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Saab Automobile Issue Official Press Release On Their Road To Independence

Posted on 20. Feb, 2009 by .

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I just woke up this morning to find this in my inbox, wow, this is really positive news for once. Most people I talked to yesterday were preparing for the worst case scenario, so I guess this is a pleasant surprise for all!

Take a look at the press release below:

2009-02-20

CONTACTS

Saab On The Road to Independence

# Swedish court process to reorganize Saab into a fully independent business
# Three new models ready to be launched over the next year and a half
# Saab aims to bring resources back to Sweden
# Funding sought for ‘new independent Saab’

Trollhättan. As a result of GM’s strategic review of the global Saab business the Saab Board announced today that it will file for reorganization under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for investment.

The reorganization is a self-managed, Swedish legal process headed by an independent administrator appointed by the court who will work closely with the Saab management team. As part of the process, Saab will formulate its proposal for reorganization, which will include the concentration of design, engineering and manufacturing in Sweden. This proposal will be presented to creditors within three weeks of the filing. Pending court approval, the reorganization will be executed over a three-month period and will require independent funding to succeed.

“We explored and will continue to explore all available options for funding and/or selling Saab and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment,” said Jan Ake Jonsson, Managing Director for Saab Automobile. “With an all new 9-5, 9-3X and 9-4X all ready for launch over the next year and a half, Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs. Reorganization will give us the time and means that help get these products to market while minimizing the liquidity impact of Saab on GM.”

Funding for the restructured company will need to be secured during the reorganization process and will be sought from both public and private sources.

Saab will continue to operate as usual and in accordance with the formal reorganization process, with the Government providing some support during this period. The reorganization should have no impact on other GM operations. Details of the progress will be provided as milestones are achieved.

CONTACT(S):

Public Relations
+46(0)520-279 797

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