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Big Swedish delegation heading for China [gp.se]

January 18, 2012 in News

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.”.

43 responses to Big Swedish delegation heading for China [gp.se]

  1. 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.

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

  3. 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. :)

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

    Griffin Up !!!

  5. 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

  6. 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 …

  7. 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 something to counter this threat if they are to win. They must, therefore, sell the idea that they also have a plan to get production up and running again in the near term. The idea of making a Lotus car in THN until the 900 is ready is inspired. I bet you that they also promise very large scale, long-term investment whilst the delegation is out there.

    Of course, if GM really wants to exclude China from Western markets, then it would be well advised to approve some other party’s desire to maintain its production licenses prior to their formal bid.

    Either way THN wins, which is good news for the workers!

    • 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.

    • 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?

  8. 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.

    • 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?

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

  10. 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.

  11. 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 and make a deal, you are business men-start dealing!!

    • 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.

  12. 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.

  13. 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 thinks that the bidder would keep SAAB car production, and not start producing e.g. Skoda.

    Who is that bidder, that don’t need GM license. Theories. Opel (they don’t need the licenses for obvious reasons)? FIAT (badge engineering: Chrysler 300C as SAAB 9000), Renault. Who else.

    Any news regarding that? TimR is there any truth in this theory?

  14. 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.

  15. 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.

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

  17. 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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