Saab Automobile Archives

Today at Saab Automobile – reorganisation announcement

Saab Automobile lodged an application for reorganisation today. A decision on this application is still pending as I write this. If granted, the reorganisation process will allow us court protection from creditors’ actions whilst we continue making the financial arrangements we need to carry us into our long-term deals with partners from China.

As you might imagine, it was a pretty busy day here today. I am preparing some text on the reorganisation process, some plain-speak on what it will mean for Saab and our stakeholders, but that will have to wait until the court’s decision is announced.

For now, I thought you might be interested in a first-hand view of some of the things that happened here today.

We started the day with a meeting around 9am to take the marketing, sales and aftersales teams through the press release and associated points about the actions taken today. The meeting was led by Matthias Siedl and Knut Simonsson, our global sales and marketing chiefs.

Following this, there was a presentation by Victor Muller to the full workforce at Saab inside the factory in Trollhattan.

Victor spoke about all manner of things regarding the current situation and introduced Mr Guy Lofalk, the administrator nominated by Saab to take charge of the reorganisation process. Mr Lofalk also oversaw the previous reorganisation when Saab was owned by General Motors in 2009.

Victor Muller explained the road that Saab had taken over the last few months and included his personal apologies for the current delays in wage/salary payments, explaining that the filing today would help staff to get paid sooner, whilst providing a more stable and certain environment for Saab to pursue their funding requirements.

Staff were offered the opportunity to ask questions a small number of them took this opportunity before the meeting dispersed.

L to R: Guy Lofalk, Kristina Geers and Victor Muller

Saab expected a decision from the court in Vanersborg at 2pm, however the decision has been delayed and is now expected at 2pm Thursday. A press conference scheduled for 2:30pm still went ahead and was well attended. You can see a recording of the press conference, recorded by Saabs United here.

Victor Muller spoke to the gathered press as a group before taking questions, and then stopping for individual interviews.

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As mentioned earlier, I’ll have a few more thoughts to share on the reorganisation meaning and implications but that will have to wait until we have received a decision from the court, due around 2pm tomorrow, Swedish time.

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Press Release: SWEDISH AUTOMOBILE UPDATE ON SAAB AUTOMOBILE

Zeewolde, The Netherlands, 26 August 2011 – Swedish Automobile N.V. (Swan) is aware of certain reports in Swedish media related to a possible filing by Saab Automobile AB (Saab Automobile) for a voluntary reorganization under Swedish law.

Swan confirms its earlier announcements that it is in discussions with several parties to secure the short and medium term funding of Saab Automobile to restart and sustain production. In order to secure the continuity of Saab Automobile, Swan and Saab Automobile are evaluating all available options. Swan will update the market in case of new developments.

Welcome to Inside Saab

It is my great pleasure to welcome you to Inside Saab – a new initiative from Saab Automobile to bring the company closer to its enthusiast community.

My name is Steven Wade. Those who know me – and many who don’t – call me Swade. I’ll be your host on a journey into the heart of this wonderful carmaker. Some of you may be familiar with my previous work at a site called Saabs United, where a community gathered to support Saab as they were sold by General Motors to become an independent company back in 2009/10.

Saabs United continues in good hands, but Saab has decided to take a big leap of its own into the social media space, and I’ve been fortunate enough to be invited along for the ride. To work for one’s favourite company, in such an exciting industry and at such a unique time in history is an enthusiast’s dream. I’ve been on board with Saab for just two weeks and I’m already bursting at the seams over the things I’ll be able to share with you here. I’m even more excited about the things I can’t share, but we’ll get to those eventually.

Saab is blessed with a passionate and engaged enthusiast community. Rather than just have you read press releases, we want to bring you Saab’s story from the inside, and from an enthusiast’s point of view.

How do we design and build our cars?
Who are some of the people involved?
What goes on behind the scenes?
What happens at Saab events around the world?
How can you connect more with Saab?

We don’t want you to just read more about Saab. We want you to experience more, too. We’ll give you plenty of information about official Saab events around the world and how you can participate.

A conversation needs two or more people. We invite you to connect with us here at Inside Saab via the comments section of the site. You can also connect by being a fan of Saab Cars on Facebook, or following Saab’s official twitter feed. We’ll add more outlets for connection as time goes on.

Saab has a rich history, filled with superb, iconic vehicles and stories of innovation, determination and triumph over adversity. These are still challenging times for Saab, but they are also exciting times as we build on our independence and bring you an all-new range of Saab vehicles and technology.

You’ll be able to read about it all, right here on Inside Saab.