Renco opposed by Saab Unions?
June 8, 2009 in Archive
This is a new insight….
Gulfnews (of all papers) has a story I haven’t seen anywhere else about Saab being sold and in that story they mention the following:
The second potential bidder, Renco Group of US investor Ira Rennert, is heavily opposed by Sweden’s unions, the sources say, given that any deal would raise suspicions about a short-time financial investor trying to dismember the carmaker in a bid to sell its profitable parts, such as Saab’s renowned turbo technology.
Whilst Saab claim that all potential suitors have seen and committed to their business plan, and have professed a long term interest in Saab, the unions obviously aren’t buying it.
This has been a concern for a number of people on this site as well, though it hasn’t figured as prominently as Renco’s environmental record. I guess it’s par for the course when it comes to companies that specialise in investment rather than specialise in cars. Renco, despite having several companies under their wing that deliver hard goods, are seen in this light.
