You are browsing the archive for 2011 October.

Avatar of Red J

by Red J

Pang Qingnian: Captain of the coach

October 29, 2011 in Saabology

Muppen has found a very interesting video on the net. It is about Mr. Pang Qingnian, the head of the Youngman Group.

It is very interesting as it shows how he managed to evolve from building bicycle tyres to building 90% of all the luxury coaches that drive in China.

This video must be from 2009, or early 2010 and thus it is very interesting to hear at the end what are his plans for the Youngman car division.If this is what he pretends to do with a sub-brand based on Saab technology, then Saab has a bright future, as Saab will be able to deliver and so he will be able to pay the bills. ;-)

Neo Brothers – The OFFICIAL Cadwell Park Saab Trackday Video 1st Oct 2011

October 29, 2011 in Neo Brothers

Hi all,

We would like to invite you to watch our antics from our 2011 Saab trackday held at Cadwell Park in the UK. We had a fantastic turn out of over 40 Saabs ranging from factory condition Saab 96′s to Neo Brothers prepared 420BHP Saab 9-3 Sport track cars. Overall, the day was a huge success and was a great opportunity for like minded enthusiasts to gather and share Saab stories and also to explore their cars on a racing circuit.

Sit back and enjoy the next 4 and a half minutes…

(please turn the sound down if you do not like the Fword)

Roll on 2012 trackday ;) !

Neo Brothers

Avatar of till72

by till72

Till’s thoughts…

October 28, 2011 in Editorial

This morning as I posted the article from sverigesradio it was kind of surreal. This was the big news we had been waiting for and as they were there I could hardly believe it. Over the past six months all of us at SaabsUnited have been dealing with economical and financial issues to a grade that really got unhealthy. I can’t even estimate how many hours I spent on Skype, discussing with members of our team, about the latest news or how to see things and which opportunities the developments would bring. Sometimes it was real fun but on other occasions it was depressing. I never lost the faith that Saab would get through all that and I enjoyed to cover the developments here and give my opinion, but deep inside I was really longing to get back to writing about the cars again.

I had a few business dates today so I got to drive my 9-3 a bit and think about what this sale to Pang Da and Youngman (let’s call them PDYM from now on) would mean for Saab. I more or less put together my few cents on that in my head and I just feel like sharing them with you.

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by Jeff

A Very Tired Victor’s Thoughts, Plus Words from Tim Colbeck

October 28, 2011 in News

I’m fairly tired and I’ve only been on the periphery of this for the past few days. I can’t imagine how Victor is fairing being in the center of the storm. I hope he gets some rest. He does plan to remain involved in some capacity. Thanks again, Victor.

Though Rune posted it this morning, I feel like it needs to come back to the top of the page. Some may wonder what’s going on with Spyker. I have news of that which I’ll share when I can. In the meantime we should all stay happy that Saab will remain in Sweden, albeit with lots of Chinese money behind it.

Lyssna: Victor Muller om att Saab blir kinesiskt

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Avatar of Trued

by Trued

欢迎庞大青年入萨博!

October 28, 2011 in Uncategorized


For those of You like myself is not speaking the language of Saabs future owners. It means something like “Welcome Pang Da & Youngman, to the Saab Family!“.
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by TimR

Tim’s thoughts…

October 28, 2011 in Editorial

Yesterday evening I got an e-mail from one of my good friends that said: Tim, you have to come online on skype NOW!!!.

As most of you know I have been hospitalized for a few days with an extreme fever and some other nasty stuff thats kept me out of order for more than two weeks now, anyway now the medications have taken a serious effect and for the last 24 hours I have felt pretty good and tomorrow I get to go home.

Anyway yesterday I got the news that the deal was signed and I was not too surprised. I have heard from many of our sources the extreme pressure Victor has been under but I still felt very confident that he would pull it off.

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Avatar of TimR

by TimR

Lofalks estimations on the future

October 28, 2011 in News, Uncategorized

Dagens Industri have talked with administrator Guy Lofalk who now is keen to continue the work with Saabs reconstruction.

“Its very joyful that we have received clarity in the ownership structure and have a potential funding in place which is of course a totally different starting point than before”

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by Trued

LIVE Reports on Swedish Radio P4 West

October 28, 2011 in Uncategorized

http://sverigesradio.se/sida/lokal.aspx?programid=3654

Interviews and talks on this mornings great news.
It is in swedish of course.

Avatar of Rune

by Rune

Muller: “Good news for Trollhättan!”

October 28, 2011 in News

P4 Väst managed to get some comments from Victor Muller.

Lyssna: Victor Muller om att Saab blir kinesiskt

Avatar of Rune

by Rune

Press release: Swedish Automobile Issues Subscription Notice Under GEM Facility

October 28, 2011 in News

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that it issued a subscription notice for 3 million shares under the current EUR 150 million equity facility between Swan and GEM Global Yield Fund Limited. The exact number of shares to be issued and the price thereof will depend on the pricing period which commences today.

In light of recent developments, North Street Capital, LP will not subscribe for 2.3 million shares in Swan and revoked its commitment to provide a loan of USD 60 million to Saab Automobile.

Avatar of Rune

by Rune

Press release: Swedish Automobile Signs MoU With Pang Da And Youngman For The Sale Of Saab Automobile And Saab GB

October 28, 2011 in News

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that it entered into a memorandum of understanding with Pang Da and Youngman for the sale and purchase of 100% of the shares of Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) for a consideration of EUR 100 million.

Final agreement between the parties is subject to a definitive share purchase agreement between Swan, Pang Da and Youngman, which will contain certain conditions including the approval of the relevant authorities, Swan’s shareholders and certain other parties. The consideration of EUR 100 million will be paid in instalments. An important consideration for Swan to enter into the transaction is the commitment of Pang Da and Youngman to provide long term funding to Saab Automobile.

The administrator in Saab Automobile’s voluntary reorganisation, Mr. Guy Lofalk, has withdrawn his application to exit reorganisation. The MOU is valid until November 15 of this year, provided Saab Automobile stays in reorganisation.

Avatar of Rune

by Rune

Request to terminate reconstruction withdrawn *Updated

October 28, 2011 in News

The court issued a press release today stating that Guy Lofalk has withdrawn his petition to end the reconstruction phase. The scheduled meeting with the creditors October 31st 10am will be held.

“(…)Pang Da and Youngman will finance the reconstruction as well as the business plan.” writes Guy Lofalk. “(…)this must be looked into before making a decision to terminate the reconstruction”

From TimR:
Yesterday evening, news reached SU from a secure source that the sales price is supposed to be 100 million euros for 100% of the company. The request from Lofalk confirms this development.

Avatar of till72

by till72

TV4 report about a sale of Saab to Pang Da and Youngman

October 28, 2011 in News

Just found that on sverigesradio.se

Swedish Automobile have agreed with the Chinese companies Youngman and Pang Da to sell Saab Automobile, according to sources of P4 West.

At Saab’s information department were few comments.

- When something concrete comes out of the negotiations and we’ll tell it through a press release, says Gunilla Gustavs to P4 West.

Reportedly, the parties agreed late last night. According to data for P4 West would purchase price to be 100 million.

That the negotiations dragged on yesterday might explain to Saab Automobile failed to keep the deadline the district court in Vanersborg had set.

Before the bell 13 Saab would be received with a request to continue the reconstruction and to replace the administrator Guy Lofalk, but no sign of life came from the company.

Just before closing time announced, however, Saab’s general counsel Kristina Geers negotiations between Saab and the Chinese companies Pang Da and Youngman was critical to Saab’s position on the issue.

Now that the negotiations are completed is a statement from Saab to the district court in Vanersborg expected later today.

For the moment let’s keep calm. This is quite emotional for some of us but let’s wait an official press release. And not to forget: the last word on this has GM.

Avatar of Trued

by Trued

Trollhättan Saab people featured on SVT Aktuellt tonight.

October 27, 2011 in Uncategorized

A whole group of Saab people spoke about the Saab Spirit among them Museum Curator Peter Bäckström.
A really nice here-and-now drop in in Trollhättan taking a litmus test of the spirit.
It seams to be high, lets hope everything squares out at Lawfirm Roschiers tonight in Stockholm.
Featured in Trollhättan was; Oldimers, academic union boss, blue collar worker, Maj at ANA Sales and her boss Joachim.
At the end of the feature a dismal Professor of economics who was full of unnessecary fears…

Avatar of Rune

by Rune

Saab’s filing with the court

October 27, 2011 in News

At 3:48pm, Saab’s General Counsel Kristina Geers sent an e-mail to the court notifying them that Saab, for the moment, has no statement to make pending further discussions with interested partners.

Saab and its owner is currently engaged in intensive negotiations with relevant investors securing future continued financing of Saab’s business. The outcome of these negotiations, that are very close to being finalized, are vital to be able to present the court with the statement requested. As a result, Saab cannot provide a statement at this time. Saab intends to fulfill the request as soon as possible. Saab is conscious of and respects the schedule the court is following.

The e-mail had been printed, scanned and then published on the court’s webpage. I have translated it very quickly and the gist of it is as follows: More information will follow.