It’s nice to hear something from Trollhattan for a change. I know most of Sweden shuts down for about three weeks in July but the silence from there in the last few weeks, amidst the situation the company is in, has been of some concern for a Saab blogger, though no news is good news, I guess.
Saab’s Gunilla Gustavs has spoken briefly with reporters in Sweden and her comments have been reported both at DI.se and at TTELA.
She states that the reconstruction phase that Saab has gone through and the associated write-down in debts owed to creditors has left Saab in a very good financial position.
The Googletrans with a few edits from yours truly.
The balance sheet is restored in Saab Automobile AB. [This] emerged at a general meeting held last Friday.
“Actually, we are a healthy company now,” says Gunilla Gustavs [from] Saab Information to TT.
Saab, owned by General Motors, is still in a reconstruction phase where the deadline expires on August 20. During reconstruction, the company’s liabilities to creditors written down by 75 percent in a so-called accord.
The aim of reconstruction is that Saab, which is characterized by massive losses, will [stand on its own two feet] again as an independent company.
“The process to sell the company continues, but we have no problem with the capital anymore,” says Gunilla Gustavs to TT.
It’s my understanding that the reconstruction phase end-date of August 20 is one that Saab can apply to extend, if required. Saab began reconstruction in February and each stage is three months in length. Saab are currently in their second three month block, which ends August 20.
Obviously, Saab would like to have an announcement made by then about the sale to Koenigsegg and the timetables mentioned to me in the past have all pointed towards mid-July for a deal and the end of July for an announcement.
We’ll have to wait and see if that timetable holds. Since showing those CGI photos several weeks ago, my sources at Saab have all gone completely and totally cold so I have absolutely no news to offer, other than what I heard earlier in proceedings.