Deal With IAC Has Been Reached

According to SvD.se, IAC (who makes Saabs dashboards) and Saab have reached an agreement.

Although the agreement is [reached], IAC’s notice of termination of 200 employees remains.

“We were ready with the negotiations last night,” said Managing Director Marcus Nyman, who is himself in China.

IAC, which was among those suppliers that halted deliveries because of non-payment, has accepted an installment plan for the debts and a credit for future deliveries.

“From the start, we are far from each other, but we have approached and found a solution that benefits both parties,” said Marcus Nyman.

Despite the agreement, IAC chose not to withdraw the layoff notice for 200 workers who were at the end of April.

“Just because IAC has signed an agreement does not mean that the production of Saab in time. There are a number of other critical success factors. There are more vendors that they must get along with,” says Marcus Nyman.

The notice will remain until the IAC will know that the Saab factory restarts.

“We see that only when we receive orders in our system,” said Marcus Nyman.

IAC has about 15 percent of its sales in Sweden for the Saab. For Färgelanda factory, this is 60 percent.

United Marcus Nyman IAC can start delivering quite quickly.

“It takes a few days. Previously, we have said a calendar week,” he says.

TT: Can you deliver to on Friday when Saab is hoping to get in once the factory?

“It remains of course a few more days until Friday and it’ll be about a slow start where you are not running at full speed from day one, so it can go,” he said.

In addition to Plastal which already agreed to shipments, these are two of the larger companies involved in getting production rolling. From what we’ve heard of the guys on the production line, they’re working with everything they have to get the plant operating again. We wish them our best and hope they can get some rest once it’s all done. This week probably feels something like a marathon for them, between the negotiations and logistics, they’re attempting an incredible feat.

Thanks for the tip Thomas J!

_____________

Sadly in other news, ANA (the largest Saab dealer in the world) is laying off 16 employees (9 blue collar, 7 officials). Hopefully they’ll be able to bring them on again soon.

54 thoughts on “Deal With IAC Has Been Reached”

  1. They’re not laying off people, they’re giving notice to them. This means that unless the notice is withdrawn, they will be laid off in a while, usually something like three months.

  2. Yes, sorry to hear about ANA, hopefully things will pick up soon…
    Now, an open question – a year ago my brother relocated to Sweden and got a company car as a perk, valued at not above 300.000 SEK. While he wanted a Saab, Saab was not on the approved list and he “had” to choose the other swedish car, a loaded V70 TDi 5cyl.
    – What is the latest status on this “List of Approved Company Leasing Cars”? I understand the limit was not with my brother’s employer, but rather the financing company. I believe Saab really has to push this matter, as company leasing counts for great percentage of sales…
    Anyone?

    • Yes its right, many leasing companies and companies dropped SAAB from the shortlist of company cars- claiming too low or uncertain residual values at the end of the contract leasing term.
      (Or a value below the residual value in the contract, forcing the lesee to pay additional money to get rid of the car….)

      Mostly the OG SAAB 9 5 suffered from this predicament…
      Simply too many Biopowered and of that old modell out there, bearing in mind the uncertain future that SAAB faced 2009-2010.

      This was a devasting blow to SAAB – 50% ofall cars sold in Sweden end up as company cars and even more – 80% of all cars in the segment where SAAB market their product.

      After this ordeal – the SAAB dealer association in Sweden agreed collectively to guarantee an average residual value once again and sales have been able to recover.

      SAAB really need that SAAB 9 5 SC to hit the market soon – I think this will enable them to get back into the company car market again.

      • I agree the need of 9-5 SC in Sweden. I was driving in Sweden yesterday E18 (between Orebro and Stockholm, sadly with Toyota, no Saabs available in AVIS Stockholm Arlanda in sunday evening) I calculated Saabs coming against me and I was surprised to get 10 combis and 11th was sedan. Sweden seems to be a SC country… (well actually after 11th next 4 ones were sedans..)

        • I have some good news from Avis. When I picked up a rental car last week I was offered an Opel Insignia. I was fairly happy with that, but I asked them if they were considering buying SAABs instead. They answered that they had already placed orders for new SAABs to their fleet and Volvos as well. So hopefully next time.

    • My company allows us to order Saabs and we use a leasing company owned by Volvo.

      There was no problem when I ordered my 9-5 SC to be delivered after summer 🙂

  3. Strange. I started leasing a TTID at about the same time, dec 2009. I have GMAC financing bur of course this was still GM-times for saab.

    • Don’t remember what leasing company it was, but it was in April/May 2010 that they would not accept a Saab. Good to know it now seems to have been resolved and company leasing works also for a Saab.
      Yes, Sweden seems really to be a Combi Country, most people are practical and cannot / will not afford a second or third car just for fun… Not like in the US, where I have seen many families with numerous cars, one for each specific purpose, be it haulin’, drivin’, bashin’, burnin’, curvin’, etc…

  4. Sad to read about ANA, certainly after the SU weekend of 14 and 15 May.
    Good to read that there is something starting to move in the supply chain, that leads to the Saab works in Trolhättan. Hopefully the other suppliers follow IAC and hopefully the production can restart this week.

    • They’re going to lay off 16 staff.

      Sadly in other news, ANA (the largest Saab dealer in the world) is laying off 16 employees (9 blue collar, 7 officials). Hopefully they’ll be able to bring them on again soon.

      It’s the final remark in the post in this very topic.

    • Don’t worry I missed that too.

      Probably something to do with the comment (above) being under the:

      Thanks for the tip Thomas J!

      _____________

    • That’s a case of something I’d like to call lost in translation in translation. Here’s what the article autoblog.nl said (translated from Mandarin into English. I think “huge” = Pang Da

      Development and Reform Commission on the huge and Spyker matters relating to establishing a joint venture in China there is no clear statement

      New network】 【Finance (Xinhua Liang Dongmei) a new source of financial reporters, the NDRC did not support a large group of Chinese shares Spyker, Spyker on the huge and establishing a joint venture in China, is not it clear that matters. This is so huge and transactions between Spyker woeful.

      Swedish local time on May 23, Spyker subsidiary of Saab Automobile in a statement, said a large group has been communicating with the Development and Reform Commission.

      T. To a large Group chairman, said in a statement, the communication with the Development and Reform Commission is in a good atmosphere, the parties will be conducted for all have a good understanding, “I believe we can get the appropriate approval.”

      May 16, huge and Spyker signed a “Memorandum of Understanding” and “car sales agreement”, the two sides plan to further explore the shares and issue a joint venture in China. But the huge need to get approval from NDRC and other government departments to complete the shareholder and joint venture transactions.

      Informed sources told reporters on the new fiscal, May 18, the National Development and Reform Commission Saab acquisitions specifically for a meeting with representatives of large and other auto manufacturers to communicate.

      I think they’re just rehashing what we heard yesterday.

      • Well, at least we can say that Saab now has really a high profile! Much more than before the crisis. This should result in public awareness that in turn could translate into sells, provided that the trust in the company can eventually be restored.

        By now, everybody should be aware that this is not a Saab being tucked to her last berth, but a fighting Saab.

      • It’s fun to see us all getting so good at shooting down rumors. I didn’t see one person actually try to defend the convoluted translation as true 🙂 Well done commenters!

    • If this is true, it is only about the 24% stake…BUT…please be very careful with that kind of “news” (“anonymous source” etc…)…no hard feelings..

      • The original article in china – had nothing new to tell.

        The had good talks with Pang Da and others – but still enough qustions about the planned joint venture.

        So nothing has changed – keep calm and carry on
        don´t trust this news from twitter or blogs

    • I wouldn’t worry too much about this article, especially since it’s been written by somebody who’s been waiting for his “I told you so” moment from the day VM first came into the picture as possible saviour of Saab. This clearly VM-obsessed guy also goes by the name of ‘BoeBoe’ here on SaabsUnited, by the way…

    • If this had been true, then DI.se among others would have been screaming their heads off in jubilation. They’re reporting nothing, ergo it’s false.

  5. A guy named Robbie reports on something found in a Chinese article where an anonymous source is quoted. Sad to see autoblog.nl joins TTAC and is now on my list of automotive news site with no integrity.

      • @golfhunter before spreading bad news we should take a break – reflect the articles if they could be true. if there were negoations running we cannot spread any rumor from “sources” .
        SAAB made a press release when the hawtai deal -was impossible – they also would made a press release if the pang da deal fails.

        spreading every inofficially rumor and voices from “experts” in this time isn´t good for SAAB and the trust in the company. If they have something to answer officially the will do.

        • I think the best test to know if apiece of bad news is true or false is DI publishing it or not.
          AS Börjesson said, DI hasn’t published it so it can’t be right.

  6. Always nice to be accused of something. Not.

    This news was mentioned on a number of other Dutch financial websites at 16:00. For instance fd.nl and rtlz.nl and if you look at three shares you see them drop sharply at 1600.

    The news was also on the Dow Jones newswires.

    • what an surprise that shares drop if someone publish such an report.

      still they have enough to talk and much is unclear – but the NDRC is comparable with the EIB (no fast decisions – talk talk talk) and they started to talk yesterday !!!! and the main theme is still the joint venture…

      so it´s still rumors – and the main question is if pang da needs an approval to buy shares. (from the NDO of course but from china ?)

        • that´s true but we don´t know what the “source” really meant. that a takeover or a joint venture has to be approved must be clear. and also the approval is no matter of one day-
          And don´t forget that they want no bid war 🙂 from the car makers

          My fear is only to make bad news on no news. The bid war news from last week were for example good news. Some car makers are interested and so on…

        • China is not a totalitarian regime, but a bureaucratic, centrally-controlled economy. There are many forces in play in China, there is no central “brain” with fixed views who makes all the decisions. The Chinese decision circles have distributed powers and are very numerous in terms of number of participants. It is always a cautious power play between different influence and interest groups. Pang Da is large enough to be able to exert their own influence, as are potential partners, such as BAIC.

          The general strategy is to merge automakers to bring the total number down to 10. What is now going on is careful strategic positioning to be among those around which the consolidation will take place. BAIC will benefit a lot if they have a solid technological base for expansion here. The lack thereof is their disadvantage vs. for example SAIC or the private companies, such as Great Wall or Geely. There is no reason why all potential suitors, including Pang Da, Hawtai, Youngman and BAIC, would actually become a consolidation kernel themselves around the Saab technology (+ Hawtai’s VM engines etc.)

          I do believe NDRC said “not so fast, let us weigh the options and appraise the situation” rather than outright “no”. This is not Chinese style.

      • Yeah, it kind of makes sense. Spyker is listed in the amsterdam stock exchange, it is a very volatile share, often going up or down 10% or more after every piece of good or bad news. Coincidentally that every piece of share price influencing news “from anonymous sources” pops out via dutch news sites…

          • VEB would be too visible, i was thinking more along the lines of some small time investor, that maybe have a way of reaching some journalist or autoblog.nl contributor…

            Anonymous sources spreading unconfirmed rumors via sites like autoblog.nl make make me feel kind of funny. Bloggers are not journalists, and may have even lower standards of ethics, like source checking etc. before publishing stuff… Their add income goes up with every click… All I’ saying is that there’s people tha tcould benefit from malicious rumour spreading. Unfortunatly and very cynically, there’s more to be lost for a couple of thousands of workers and their families in sweden and other places.

  7. Lear, the ones that make the seats and gave notice to all of their workers in their THN facility will also be able (and willing) to deliver for Friday production start.

    As in the case of IAC the notice to their workers won’t be withdrawn for the moment.

    One of the other suppliers are Lear Corporation, which at its plant in Trollhättan makes car seats for Saab. Although they have started work on a production start.

    – I’m pretty confident that we will reach an agreement with Saab. In this case we fix the supply to on Friday, said Johan Andersson, head of the headquarters unit.

    Last week, were given to all employees, over 160 people.

    – We do not take any decision to withdraw lay-off before we see that there is a long-term thinking in terms of both finance and production volumes, “says John Anderson.

    (source: TTela.se)

  8. Good news about the major suppliers re-supplying SAAB (although a cloud still hangs over those employees given lay-off notices). Are the SAAB people actually back on site today?

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