Saab company Archives

Press Release: SAAB AUTOMOBILE FILES FOR BANKRUPTCY

Zeewolde, The Netherlands, 19 December 2011 – Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning. After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding […]

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Editorial

D-Day?

It’s Monday here in Australia as I write this. Later today, in Sweden, there will be a court hearing to determine whether Saab’s reorganisation should continue. To say there’s a lot hanging in the balance would be the understatement of the year. Here’s the scenario, as seen from someone on the other side of the world and somewhat out of

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Editorial

Watching the Saab reorganisation reports

Tis the season to be jolly nervous….. The Examiner is posing some Dear Santa questions from various stakeholders in the car industry: Saab Owners: A glimmer of hope for the future of their beloved, quirky sport sedan. Actually, I think most people are wishing for a future hatchback, but that aside…. Yes, people are indeed looking for hope for Saab

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Editorial

We at Saab intend to survive

Yesterday the newspapers had stories of impending doom, predicting a bankruptcy filing by Saab some time later that day. This journey we’re on is quite literally hour-by-hour at the moment, so I’m sure there were reasons for the papers to believe that the story was feasible at some point. But please don’t believe for a moment that anyone here at

We at Saab intend to survive Read Post »

News

News: Payment transferred

News from the front office in Trollhattan: — Saab confirms that the first payment of the funding, which was promised by Youngman, now has been transferred to Saab’s account. The efforts to secure the remaining funding, needed to pay salaries and continue the voluntary reorganization, continue and the work is moving progressively forward. —

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News

Press Release: Swedish Automobile Continues Discussions With Youngman

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces it is in discussion with Zhejiang Youngman Lotus Automobile Co. Ltd. (Youngman) and a bank in China about an equity interest in Swan. The discussions include a short term solution to enable Saab Automobile to pay the November wages and continue reorganization. The outcome of the discussions is still uncertain. Any possible transaction

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News

Press Release: Saab GB Files For Administration

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that Saab Great Britain Ltd (Saab GB) filed for administration with the High Court in London today. The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured.

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Editorial

The ‘why?’ of Saab staying alive

We’ve all been hanging on the ‘what?’ for so long. We’re all fatigued due to the lack of visible, tangible progress in the potential sale of Saab Automobile. I’d like to take a moment and think again about the ‘why?’ Why should the sale of Saab be allowed to proceed? Why doesn’t the company, like so many analysts out there,

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Inside Saab Automobile

Saab delay submission to creditors in order to continue negotiations

Re-posted As the day in question is tomorrow and there are still a few headlines going around about this, I thought it wise to bring it back to the top of the page. —— Despite the sound of the headline, this is not a press release. The purpose of this posting is two-fold: to talk of the delay in the

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News

TRADING UPDATE SWEDISH AUTOMOBILE N.V. – THIRD QUARTER 2011

TRADING UPDATE SWEDISH AUTOMOBILE N.V. (including SAAB AUTOMOBILE AB) THIRD QUARTER 2011 Zeewolde, the Netherlands, 18 November 2011 – Swedish Automobile N.V. (Swan), a holding company that owns subsidiaries which produce and sell premium automobiles under the Saab and Spyker brands (together referred to as the “Group”), today issues a trading update for the third quarter of 2011 ended 30

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Editorial

MoU with Youngman, Pangda has expired, but talks continue

Today’s the day the Memorandum of Understanding that was signed on October 28 expires. There might be some uncertainty as to what that will mean for Saab today. In short, whilst the MoU does indeed expire, all parties to that deal have agreed to continue talks. General Motors, who must approve any sale of Saab under certain conditions, indicated that

MoU with Youngman, Pangda has expired, but talks continue Read Post »