Tag Archives: SEK

TTELA Reports: Spyker To Proceed To Next Stage

Posted on 15. Dec, 2009 by .

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According to TTELA, Spyker is to proceed to the next stage in the process to buy Saab Automobile.

General Motors’ process to sell Saab Automobile has taken another step. The European Investment Bank (EIB) and the government have received support to go in depth with one of the stakeholders.

– I know that the bank has given a name to work with and we have also begun to look at the candidate who is the main track, says Joran Hagglund, state secretary at the Economy Ministry, told TT.

For Saab to be able to get the loan from Bank of 400 million, approximately SEK 4.2 billion, the new owner must meet the Bank’s review. Government and SNDO review is to examine whether the state should provide the necessary loan guarantees.

– We will include an economic analysis and see where Saab will enter the business image of stakeholders. For us, the same requirements apply as before – the taxpayers should not suffer,” said Joran Hagglund.

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Saab Automobile’s Trade Union Wins Award

Posted on 19. Nov, 2009 by .

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IF Metall, Saab Automobile’s trade union has won an award for their efforts in Saab’s survival and development.

Trade union heroes get Johnsson Award

The work place club at Saab Automobile in Trollhättan receive this year’s award-Goran Johnsson and SEK 150 000 for their strenuous efforts to strengthen Saab’s survival and development. Two additional winners awarded 75 000 SEK each.

To honor Goran Johnsson and his services were introduced Johnson Award at his retirement award will inspire action that goes beyond the ordinary trade union work. A price of SEK 300 000 shall be distributed over five years and started in 2006.

– The work place club and its members at Saab have stood up and fought for Saab’s survival and development, “says Göran Johnsson, and continues: It is a sophisticated trade union work to match the ownership and management, while also dealing with a trade union cooperation with many countries involved.

The justification for the award, which awarded 150 000 SEK.

“Their long-term efforts will hopefully contribute to the company saved. There is also a good illustration of the Swedish model. IF Metall protects the development of industry and the Club at Saab Automobile show concretely how this work can be conducted. ”

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The Business Plan To Take Saab Automobile Up Market

Posted on 29. Oct, 2009 by .

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“Upmarket (or high-end) commodities are products, services or real estate targeted at high-income consumers.”Wikipedia

Dagens Industri has recently posted what they believed to be a heavily summarized version of Saab Automobile’s new business plan.

This business plan effectively lists three phases of the plan, with the intent that by the final phase, the company will be fully transformed into an up market automotive manufacturer.

Saab History unlike many media outlets and blogs, decided to verify this information with official channels before communicating or speculating about it here online for the global public.

In my correspondence with folks at Saab Automobile AB, I have received responses from them stating that they cannot comment on this report. I would have liked to hear that it was either false, or had some truth to it. However, I did hear that “business plans can change” which leads me to believe that if this plan is in fact authentic, there could be some modifications to it as things progress and markets change, etc. If the plan is not authentic, then it really doesn’t matter what was in this list because we have no real idea if it’s authentic or not.

I can actually say that I believe this was just someone’s speculative editorial from Dagens Industri, from what I’ve learned from other insiders over the past week.

So, why am I posting this you may ask if I don’t believe it’s really authentic? Well, I think that for historical sake, it should be noted because who knows, maybe down the road the plan in part, could see the light of day and we’ll have a time stamped record of it here on Saab History for our reference.

Here are the phases from Dagens Industri of what they believe Saab Automobile’s business plan.

The 3 phases for Saab:

2010-2011: present phase

* 115.000 cars sold gives break-even financially

* Average price per car: 189.000 SEK / €18.3034/ $27,102.15 USD

2012-2015: transformation phase

* 80.000 sold cars gives break-even financially

* Average price per car: 208.000 SEK / €20.143 / $29,874.40 USD

* New models including a 9-5 Koeningsegg Edition

2016 – : premium phase

* 65.000 sold cars gives break-even financially

* Average price per car: 280.000 SEK / €27,160.26/ $40,215.54 USD

* New models including a New 900

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Stockholm News reports Saab Deal Settled

Posted on 17. Aug, 2009 by .

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The Stockholm news reports that the Saab Automobile sales agreement with General Motors has been settled.

SAAB deal settled

General Motors and Koenigsegg Group have settled the deal over SAAB Automobile, according to public broadcaster SVT. The agreement will be presented tomorrow Tuesday, but still one obstacle remains, namely funding.

An agreement about assigning of shares is signed where Koenigsegg Group, for an unrevealed amount of money, will be handed General Motor’s interest of shares in SAAB. The deal also covers a large number of very complicated agreements about transfer of technology and service between SAAB and General Motors.

The management at SAAB hopes the deal will be the start of a turnaround for the company and that the end of the cram down will come at the end of the week.

Being under a reorganization plan has been devastating for car sales and therefore the management has worked hard for getting the company above the water again. It is important for getting the trust from consumers before the important launching of the new SAAB 9-5 model that will be shown at the car show in Frankfurt next month.

Unclear about funding

But still is one important piece missing in the puzzle for the survival of the SAAB car brand, the vital matter of funding. SAAB has sent an application to the European Investment Bank (EIB) for a SEK 4.4 billion ($600mn) loan. But SAAB must have guarantees from the Swedish state in order to get the loan and negotiations still last with the Swedish National Debt Office, the managing agency of the treasury for the Swedish state. And the Government has the final decision. Since the board of the EIB shall discuss the case 22 September, the decision by the Swedish government must be made by then.

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Jan Åke Jonsson Says Saab Automobile Need Funding Now

Posted on 30. Jun, 2009 by .

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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.
[…]

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Subcontractor PE Plastic Stops All Deliveries To Saab Factory Citing Worries Getting Paid

Posted on 20. Feb, 2009 by .

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Photo Credit: Saab History

According to TTELA, in a knee-jerk reaction, subcontractor PE Plastic Stops all deliveries to the Saab Automobile Factory citing worries getting paid.

If you look at it, I hope this is an isolated case, it is a small business with only eleven employees total, so perhaps not much money to hold them over from day to day.

Plastic Firm stops all deliveries

Värnamo / TT

Subcontractor PE Plastic in Värnamo on Thursday stopped all deliveries of the new production at Saab in Trollhättan.

The owner Patrik Ekvall, who runs the company since a few months back, is afraid that he should not get paid for their supplies, reported Swedish Radio Jönköping and SVT’s Jönköping New.

At Saab no answer when he calls to find out what applies.
We are waiting for clearance, “he says.

The last month has PE Plastic delivered to 400 000 SEK to Trollhättan. The company manufactures plastic parts and one third of the sales goes to the Saab.

Despite the precarious situation hope Patrik Ekvall to maintain the eleven employees

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Saab Automobile To Receive European Bank Loan?

Posted on 09. Jan, 2009 by .

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Saab Automobile AB has already received the ability to apply for the $3.14 billion dollar loan that the Swedish Government has indicated back on December 11th, 2008.

According to Ola Kinnander at Dow Jones in Sweden, Saab Automobile AB is going to be possibly receiving another loan from the European Investment Bank. The European Investment Bank has a current list of recipients for loans, so this will be a good place to keep checking for the details of this loan, should it come to fruition for Saab Automobile’s sake. At this time, Saab is not yet listed.

Hagglund, a representative of the the state ministry indicated that he along with many members of the Swedish Government will be in Detroit during the Auto Show to meet with executives of General Motors to discuss the future of the Saab Automobile brand as well as the other Swedish brand and their owner.

This news dialog about Saab Automobile’s future is getting pretty substantial with a lot at stake. Wouldn’t it be nice to be present at that meeting with heads of the Swedish Government, Saab Automobile Sweden & General Motors next week. That would be some interesting dialog to say the least.

By Ola Kinnander

Of DOW JONES NEWSWIRES

STOCKHOLM -(Dow Jones)- Ford Motor Co. Swedish unit Volvo Cars is seeking a loan with the European Investment Bank, backed by Sweden’s government, and is likely to get the funds approved by March, a senior Swedish government official told Dow Jones Newswires.

Saab Automobile AB, a unit of General Motors Corp. (GM), is also discussing a potential EIB loan with the Swedish government, though it’s further behind in the process, the official said in an interview.
[…]

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