Renco: I can buy this!

Ira Rennert is a guy who shuns the spotlight so commentary from the Renco Group has been non-existent through both the previous round and this round of the search for a Saab buyer.

A report from Swedish Radio provides some coverage and perspective on Ira Rennert’s bid for Saab and his visit of the Saab factory.

The edited Googletrans:

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Renco Group seems to still be in the bidding [for] Saab. This holding company was [previously involved] in the spring and [their relationship] with GM goes far back.

“The owner seems to have no concern with what it would cost”

Ever since the early 1990s, Renco Group through one of its companies, AM General, produced both a military and a civilian model of the SUV Hummer. GM bought the Hummer brand in 1999, but let Renco Group companies continue to produce the car.

A few years ago the Renco Group bought part of one of GM’s largest suppliers, Delphi, a company formerly owned by GM, and renamed the company to Inteva.

[They manufactures some] fittings to the now deceased model Saab 9-7X, which were manufactured in the USA. Contacts with GM is therefore lengthy and detailed.

But Renco Group, [which is] led by the 75-year-old billionaire Ira Rennert [also has] some bad conscience to bear.

Among other things, through its wholly-owned company, Doe Run Company in Peru, a mine with high emissions of lead and arsenic.

The company is considered as one of the worst polluters in the world, but the Renco Group has recently invested close to three billion U.S. dollars to take care of the emissions in an attempt to wash away the stigma.

Ira Rennert [took to the] air this spring in his private jet to Trollhättan and went through the factory, which also expressed his approbation of what he saw. [He did not seem to have] concerns about what it would cost but then supposed to have said: I can buy this!

Thanks to Magnus for the heads-up!

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