I have been looking through the news that pop up in the Swedish press today and decided that it would be best to put a few of the more interesting ones together in a snippets post for a quick overview.
di.se managed to talk to Zamier Ahmed of Brightwell Holdings. He landed in Stockholm yesterday and will further go to Gothenburg and Trollhättan to meet the receivers as well as his team, which works on site to make due dilligence and work out the bid. This may still take a bit, as he states the the bid will not be made during his stay but it is “not too far away”. Here’s an interesting bit of the interview.
Why do you want to acquire Saab, is not it a huge uphill battle?
“I think it could be a very successful business if it’s led and financed right,” said Ahmed Zamier and get back to what he considers to be a fantastic product and a brand with “a tremendous legacy.”
Brightwell Holdings’ financial muscle has been questioned in the media. But critics dismiss Zamier Ahmed.
“We have been very successful in the acquisitions we have made,” he says, not wanting to name who the investors behind the company are.
“We also have support from the government, that we have in all projects. It is mostly about moral support. ”
How much would you invest in Saab?
“We’re talking about several hundred million Euro.”
Brightwell Holdings discussions with GM, which owns the rights to the critical technology licenses, continuing as Zamier Ahmed.
What do you think about the end, how will the situation be in three months?
“Until then, I think the best man will have won. Whoever does the best for Saab will win Saab. The company must remain intact. If it is fragmented there is no Saab left.”
This last sentence is pretty important if you want to judge their attitude towards Saab. They want the complete package. And don’t get too much on the fact that he is not disclosing his investors. Noone would do that, at least not in this state of the process.
Ttela took a look on the supplier situation. So far only Youngman have been in talks with suppliers regarding a possible restart of production which is no surprise as they already placed their bid and now have some spare time in Sweden. Ttela spoke to Fredrik Sidahl of FKG:
He explains that both FKG with 75 member companies and the European supplier CLEPA organization with 550 member companies are prepared to do whatever they can to facilitate a restart of production of the Saab factory.
– But the earliest point it would be possible, if there is a solution soon, this summer. Actually, it is plate for cars with the longest lead time. Saab has a special mix of metal and it would take about twelve weeks before they can start shipping again.
What has to be mentioned is that there are some suppliers that already went out of business or closed their facilities close to Saab. One example is Lear, who completely disassembled their seat manufacturing site completely. So a number of parts have to be sourced through new channels. But anyway, good to see that the suppliers still have hope.
Now on to another piece from ttela. There have been some rumors about German interest in Saab and so ttela gave it a try by calling BMW and VW asking for a comment:
When TTELA reaches BMW spokesman in Munich, Markus Sagesman, he has this to say.
– It is not the case at present, but I need to check with my colleague in charge of matters relating to Saab.
After checking with the matter again, he says.
– No, there are no such plans currently.
But when TTELA talking to spokeswoman Christina Ritz at its headquarters in Wolfsburg, the answer is negative.
– It is our policy to never comment on rumors, she says, but adds that this track is not something to put energy into.
No too hard to understand why they called those two. Saabs plan was to use a BMW engine for the next 9-3 while Ferdinand Piech himseld once stated that one had to look if Saab would fit the VW puzzle. Ttela gave those rumors a try and got two denials here but of course may be many who have taken a look and but will not show up to place a bid. And even if they are up to something in secrecy, they will not jump the gun just because the local newspaper calls.
For now let’s stick to those whose names we already know. Too many names and rumors are already out there and many are not even wirth the pixels they are made of.