Tag Archives: Ministry of Industry

Swedish Government Prepared To Support Jobs In Trollhättan For Saab Employees If Sale Falls Through

Posted on 22. Dec, 2009 by .

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Photo Credit: Jerry Lövberg, TTELA

The Swedish Government held an emergency meeting yesterday about the support of job creation in Västra Götaland region of Trollhättan, Sweden as a quick and swift response to GM’s unexpected decision on Friday.

The results of the meeting involve an effort to provide 542 million Swedish Krowns ($75 million USD) that will help drive innovation, education and social action according to Sweden’s SVT.. While the Swedish Government continues to state that they will not be the owner of Saab or support the company, they will support the employees of the wind down does in fact take place.

Of course, they are hoping that the situation turns out differently given the renewed bid from Spyker Cars and other interested parties over the weekend.

Emergency plan for Trollhättan: The Government is investing 542 million

Published 21 December 2009 – 16:57

The government is now making an extra effort to 542 million crowns to support job creation and conversion against Trollhättan and the Västra Götaland, writes in a press release. The drive is about innovation, education and social action.

Minister for Employment, Sven Otto Littorin assured that the department has been working on preparations for a long time.
“We are fully prepared and we’re ready.

“Plenty of resources in the region”

-The information we received from GM is an orderly liquidation, but what it means we need more clarity, “he said.

Littorin also assured that there are plenty of resources for different types of social activities in the region.

“Very difficult situation”

“It was new information yesterday about the potential new stakeholders in the Saab, but there are things that GM will manage,” said Maud Olofsson, when she opened the press conference at the Ministry of Industry on Monday.

“We hope, even if it is a small straw, to make it possible to resolve the issue of Saab, but I want to stress that it is a very difficult position,”
said Olofsson.

During the day, she has had several meetings, both in Trollhättan and Gävleborg.

-Both towns have been hit by large ‘notice and we are now working for a decentralized model where resources should be close to people.

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Saab Automobile Being Split Into Five Divisions

Posted on 06. Dec, 2009 by .

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Goteborg, Sweden’s post have just released a story that discusses the Swedish Debt office’s requirement for Saab Automobile to split up into five divisions, Powertrain, Parts, Property, Tools and Investering.

It is important to emphasize says Saab Automobile’s Eric Geers, that this was required by the Swedish Debt office as simply a requirement and not for a break-up of the company.

This process which has already been completed, has made it possible for the old Saab 9-5 tooling acquisition to be had with BAIC as recently reported. […]

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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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Saab Automobile’s Jan Ake Jonsson & Swedish Government’s Joran Hagglund Positive About GM Board Meeting

Posted on 01. Dec, 2009 by .

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Sweden’s Dagens Industry reports that the both Saab Automobile’s Jan-Ake Jonsson as well as the Swedish Government’s Joran Hagglund see the GM Board members as “responsive” and in a good mood with good conversations.

This is the first report from the results of the GM Board meeting. It seems clear that a decision will be made Tuesday, although we are unsure exactly what time that decision will be made.

Here is the article below, translated by google translate.

GM is actively seeking new owner

Released today. 01:12

GM is actively looking for new owners, revealing Saab’s CEO Jan Ake Jonsson, immediately after his and the Swedish government representatives’ meeting in GM’s headquarters in Detroit.

Absolutely, absolutely! We were all taken by surprise when Koenigsegg dropped out last week. But both I as the government and GM are working very hard to find an alternative, a quick solution.

Jonsson would not comment on what he believes GM’s board will make the decision, but he is confident that a decision will be on Tuesday.

– Now we are satisfied that all have the same information, that all the facts are on the table. Then we’ll see what proposals GM’s board presents, “he told TT in Detroit.

– Hope is not looking for Saab, just as there was out last week, says Joran Hagglund, State Secretary at the Ministry of Industry, to TT.

He was pleased with the meeting of GM’s board, but did not reveal whether he was more or less optimistic after the meeting than before.

– We have had good conversations. It was a very good mood. Now we see how far it is enough. It is GM, which owns Saab, and it is GM, which owns the process.

Hagglund described GM’s board members as “responsive”.

– We have carefully outlined what we have, the Swedish toolbox, “he says, and aimed primarily at loan guarantees and publicly funded programs for vehicle research in Sweden.

– We are working intensively to find a solution. But what GM’s board may believe you ask them.

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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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The Remaining Pieces Of The Saab-Koenigsegg Sale

Posted on 26. Oct, 2009 by .

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TTELA has recently published a good piece providing clarity for the remaining pieces of the Saab-Koenigsegg sale from GM following the EIB loan application approval last week.

Effectively, the EU Commission is the next step, then the Swedish Government needs to agree to this as a guarantor, then the BAIC deal needs to be complete and finally the GM sale and service agreement, finalized.

Here is the piece below, loosely translated by Google.

I can say yes to the EIB to lend 4.1 billion to Saab, but there is no money unless the Swedish government goes into the walls tier. Thus, there remain a few pieces of the puzzle.

Saab one step closer to goal
[…]

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Saab & Koenigsegg Now Wait For EU Commission

Posted on 22. Oct, 2009 by .

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TTELA has recently provided another great article about the remaining steps in completing the EIB loan that was just approved.

These two pieces involve the EU Comission granting the loan and the Swedish Government accepting the responsibility of being a guarantor.

Saab Now Wait For EU Commission

Since the EIB said yes we are now focussing our attention on the remaining pieces of the puzzle in this process. And especially one of them: How long will the EU Commission take on deciding whether to accept the matter?

Time is something that is scarce for Saab. Partly because their money won’t last forever, but also because each day of low production is a bit of a lost day.

– We have no real cause for concern, but we are still very keen to get started with what we have in the pipeline”, says the information manager Eric Geers.

But before the Saab is through the loan process, the State must provide the loan guarantee required by the EIB. And the guarantee must in turn be approved by the European Commission, to ensure that it does not violate state aid rules.

Commission splits time frame?

the Ministry of Industry submitted a notification nearly three weeks ago, but no one seems to now know how long the Commission needs to come to a decision.

– Their position is perhaps nothing that concerns us, but it’s timing that feels a bit unsure,” says Paul Akerlund on Saab IF Metall club.

For the same view, Christian von Koenigsegg.

– Timing is critical. There should be no more delays,” he says.

Saab’s goal to have everything ready by late October or early November will not hold if the Commission needs the two months that was rumored.

TTELA searched yesterday, Jonathan Todd at the European Commission’s press department to clarify the issue, but the written response from Brussels made us not much wiser.

“The commission deals with the notification it received. It is too early to make any further comment.”

On the other hand, there is much to process with the Debt Office of the loan guarantee is near an end. The Debt Office has constantly worked to October 21.

– We will be reporting to the government, but when it becomes, I can not say today. Our intention is not to delay this, “says Erik Sjulander, Administrator of the National Debt Office.

GM’s lawyers in the City

In parallel with the loan process is also under final negotiations with Beijing Automotive, as well as the GM for all the service that must be set up at Saab and GM are separated.

– We sit there day and night now. This week and perhaps into the next, we have no through them one by one. It is not that we are not negotiated before, but now flies GM in their lawyers, “says Saab’s General Counsel Kristina Geer.

A little above the head of Saab, new owner Koenigsegg Group also agreed with Beijing Automotive, which is expected to inject billions of dollars and get a minority stake.

How far the negotiations have reached is unclear.

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