All times are Swedish time:
Thanks to those in comments for providing these.
9:05am – Saab employees have been asked to leave the factory – via email from Swedish press.
09:10 FLASH: Saab are about to reconstruct
Saab have filed an application for reconstruction, says Christer Nilsson in Saabs informationdepartment according to Ekot (a Swedish news agency).
Christer Nilsson retired over a year ago. This doesn’t make sense – SW
More on this……
Saab has submitted an application for reorganization to Vänersborgs District Court, states Swedish Radio Eko.
Clearance from the district court whether it be accepted is expected during the day, “says Christer Nilsson on Saab’s information to Ekot.
Under a reorganization creditor can not ask the company into bankruptcy and part of the debt can be written off.
Saab will provide more details at a press conference at half three in the afternoon.
Other reports say 14:30 – SW
www.sr.se claims that saab has filed for reconstruction.. press conference at
14.30 swedish time
During the press meeting, the following areas will be affected:
– The future of Saab Automobile
– Reorganization Decision
– Saab as an independent business unit
According to the press release Saab sent out should you become a fully independent company with the intention to become attractive to future investors. The aim is to design, construct and build cars in Sweden, Trollhättan. The reconstruction will last for approximately three months.
A complicating factor is that the situation for Saab owner General Motors is not clear until the end of March, when the U.S. authorities decide whether they can put up with more loans. If General Motors does not get the loan of 16.4 billion dollars that you need can GM be forced into bankruptcy.
JAJ via Reuters:
“We explored and will continue to explore all available options for funding and/or selling Saab and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment,” Saab Managing Director Jan-Ake Jonsson said in a statement.
Saab said funding for the restructured company will need to be secured during the reorganization process and will be sought from both public and private sources.
Saab becoming an independent company and announces that it will launch three new models within the next 18 months.
The company is launching a brand new Saab 9-5, 9-3X 9-4X. All three models will be launched the next one and a half years.
– With all-new Saab 9-5, 9-3X 9-4X, all ready to be launched over the next one and a half years, Saab has an excellent platform for strong growth, assuming that we get funding for technology , processing and launch, “says Jan Åke Jonsson, CEO of Saab, in a press release.