Big Swedish delegation heading for China [gp.se]

MK made me aware of gp.se’s recent article.

Trollhättan’s Mayor Annika Wennerblom and the region’s development officer Bertil Törsäter are among the delegation heading to China this afternoon.

Saturday the receivers have called for an ‘exclusive’ press conference with a chosen few journalists [note to the receivers: including representatives for the customers would be very wise at this point].

“I am unaware of any connection with the trip. But if Youngman invites so many different parties, then I believe they are prepared to present something interesting” says Paul Åkerlund (former union head honcho at Saab, now a member of the city council).

Several suppliers are represented, including the European organization CLEPA.

Even the unions are there and also someone from the Ministry of Enterprise. The Ministry declines to comment.

GP has tried to reach the receivers to ask them if they are going, but have not been able to reach them.

Fredrik Sidahl, the president for the Scandinavian automotive suppliers FKG says “They should. The receivers should make sure that Saab is sold for as much money as possible. As far as I know, they were invited by Youngman as well.”.

Angelo V.
Member

I’ve got to believe that there is either a strong financial offer for GM involved—so that the wusses stop obstructing a deal. OR, maybe Youngman has some sort of stripped down plan that doesn’t include 9-4/9-5 technology—-and will begin operations with the 9-3—-trading on the Saab name and building from the ground up.

rune
Member
Trued
Member

Any representatives from the Swedish Government? If not a big shame.

hans h
Member

A representative from THIS government? I think that is unlikely. They care about restaurants not industry.

maanders
Member

They would only go if they were trying to make another deal with Geely. 🙂

OddJob
Member

+1

M.A.
Member

The announcement of the press conference next Saturday and now the trip to China of the Swedish delegation. A lot of things are happening around SAAB today. It looks like some persons are starting to use their Turbos. 🙂

Carlo A
Member

I have to say that it sounds very promising… there must be an offer forthcoming

Griffin Up !!!

DUTCH900C
Member

Ther we go again (in a good way):

Fingers crossed.
Hands crossed.
Arms crossed.
Toes crossed.
Feet crossed.
Legs crossed.
Ears crossed.
Eyes crossed.
Anything else crossed.

SAAB UP!
GRIFFIN UP!
EVERYTHING UP!

And let’s hope for a great solution

Rico
Member

I have the feeling that this is the last China card that can be played.

Let us all hope that the offer is compelling for all involved.

I’m a little nervous that here again GM was here not considered or, if so, this will not be acceptable for GM …

jond
Member
YM are clearly very interested. But we have known that all along, given their active involvement prior to the receivership. It may also be that they are strongly backed by ChiGov through the NDRC. They may be ‘on point’ so to speak for China in this matter and must therefore be a very serious contender. But the problem they face is that there may very well be other parties interested in the whole, who may get GM’s blessing and could therefore keep get the plant up and running in the near term with 9-3s and 9-5s. So they must do… Read more »
Kimberly
Member

The only way they can get the deal through is if the Chinese government issues a threat to end all GM activities within China, and grants those exclusive deals to other parties instead. Otherwise, GM wants SAAB dead, which has been made abundantly clear. Heck, they even started liquidating SAAB when Koeningsegg and other capable buyers were interested in SAAB when this whole mess first began.

No, GM wants SAAB dead and the only way it will be allowed to survive is if the Chinese government threatens to end all GM business within China, including imports.

GerritN
Member

First time that I read that Youngman would be producing a Lotus car at the Saab plant my heart jumped. Then I remembered that the YM Lotuses (Loti, Lotusi?) have nothing to do with Elise etc.
But, if it keeps the Saab plant going and the people working, that’s a good thing. Would the Saab engineers be involved too?

OddJob
Member

Saw in Automotive News today that Lotus will be sold by Malaysian owner Proton. Wonder if the buyer is Chinese?

Martin T16s
Member

I agree Rico, it is all well and good having an offer, there have been many in the past, it is the acceptance of an offer that is the critical part. Any proposed offer in my opinion should be run past the decision makers initially for basic approval before being made a formal offer. That way it is almost certain that all parties will agree once it is presented officially. This of course may have already been done if a press conference has been announced this soon. Although this may just be an update on proceedings.

jond
Member

Probably the latter. The Receivers cannot just approve an offer without doing full due diligence on all the other offers that may emerge or how else can they prove that they have done their best by the stakeholders?

saabtec
Member

Would this include a member of SU having to insure their passport was up to date? ;-p

baas900i
Member

interesting piece in the daily paper here today about the Chinese rescue of a well known wine brand, in a short period they repositioned the brand, cleared debts, free cash flow is increasing and the future looks bright, on the “dark side” news about a large bankruptcy and the pencil pushers paying themselves over $1m per calendar month to manage same. In my view the future for Saab Auto is akin to playing poker, its a shame the Swedish government are acting like pencil pushers.

Toby K
Member
TimR fly your damn plane to China with the SU Crew and kick everyone up the ass with steel toe caps on. it is a shame that GM still doesn’t negotiiate its IP up fr possible success in China even to the detriment of SAIC-franky its a better and more original product that will do well among discerning buyers. There simply must be a way..if not then it must be the same for all other buyers that may possible compete with any other brand (Opel, Buick Caddy) and that still equals death to Saab. come on people get a grip… Read more »
Trued
Member

I take the co-pilot seat, in that all-glass so sexy-y cockpit (according to the french makers i Toulouse).
Guess the 320 needs two stops at gas stations , right Tim, “Roger” That.

hans h
Member

One of the characters in a comic strip by norwegian Frode Overli is called Roger T Houston, where “T” stands for “That”. 🙂

Quijote
Member
GerritN
Member

So, maybe you should hang on to your Viggen for a while still?!
What’s wrong with it?

Quijote
Member

I’ve had several things in the past year that I’ve had to replace. She’s running awesome right now though.

Rolf Hägg
Guest

Any truth to the rumor that all the members of the SWAN board have resigned w/ the exception of VM?

http://www.washingtonpost.com/business/parent-company-of-saab-seeks-ways-to-survive-bankruptcy-of-swedish-carmaker/2012/01/18/gIQASkRa7P_story.html

BoeBoe
Member

That is no rumor. There is a press release from SWAN which confirms it.

maanders
Member

So Youngman is making a big push with this presentation and Brightwell says they are still in the running and have the cash to make this work. It is sounding like the press conference this Saturday may be to say the receivers have narrowed down the interested parties to a final list of bidders (perhaps two or three?) and that what comes next is deciding which bid to accept.

Meanwhile, hopefully someone locally has figured out a way to bid for and save the Saab Museum collection.

saabserb
Member
Tom on SAABBlog has an interesting article worth reading: http://saabblog.net/2012/01/18/saab-verkauf-update-delegation-auf-dem-weg-nach-china/ My Google Chrome does the translation job perfectly well. And now I am really curious about the mysterious bidder he is mentioning: “Our third, unnamed investor in the public goes to another course. Weeks ago I already wrote that he does not need GM licenses and so it is. Nevertheless, he would ensure a high utilization of the plant in the Stallbacka, for many jobs and a solid financing.” By the way in previous articles the mysterious bidder is from Western Europe. Who can that be. I assume that Tom… Read more »
900 classic cab
Guest

The Chrysler 300 is already a Lancia thema

GerritN
Member

Don’t even mention a Chrysler-Saab 300, even in jest!

Maybe VW is interested in making the Aero-X on the new Boxster underpinnings? I love spreading rumors 🙂

Angelo V.
Member
Rolf Hägg
Guest

Exactly, YM is in it for Phoenix. Period.

Tilley
Member

Sad for the new 9-5 though. The 9-3 was near renewal anyway, and the 9-4….

CSD_ChineseSaabDriver
Member

Youngman’s fighting spirit deserves big respect.

With such a partner Saab will be in good hands.

This week it’s all good news after the big WAMWAS gatherings.

TurboLamko
Member

+1

saaburban
Member

Maybe Jaguar is buying saab, they have the solid financing through Tata, and maybe they have à space in their familj for à swedish sibling, after Volvo, jag & Ford was split up!
Jaguar, Land Rover & Saab would make à handsome showroom.
Jaguar is currently so successful that they are running out of production capacity, and would fill the hole that the 9-5 has left in the stallbacka factory.

J,L-R,S group would really put Audi, Vw, Skoda, Porche up for some competition. Everything we think we know abt branding would come to work.

baas900i
Member

looks good on paper and would provide instant showroom capacity…

orion
Member

I really don’t care who’s taking over, as long its not in bits and pieces.

jouni72
Member

http://www.di.se : YM is making a bid next week about Saab, about 600 million euros (5 bil SEK) + another 600 million euros investing to development. Includes production of current 9-3 after 15 weeks when deal is signed. Article tells that YM knows it is overprice, it is more then suppliers need.

They are serious!

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