“Here are some guys who think they can take a shot at this” — TTELA

TTela brings more news this morning — note how eager other governments are where SweGov completely failed to do anything other than talk:

Is it the Turks the receivers are focused on? The answer is ‘yes’ according to Brightwell Holdings.
“I work closely with Victor Muller, the receivers and others from Saab’s management group” says Brightwell’s Zamier Ahmed – which is even confirmed by Victor Muller.

As earlier reported by TTELA, the Turkish investors Brightwell Holdings want to buy what is left of Saab, and they are confident General Motors would welcome such a deal.

Zamier Ahmed, a board member of the company was yesterday in London. He confirms that the interest in Saab is intact.

“We want to keep Saab in Sweden”.

According to Mr Ahmed and Mr Muller, they have been cooperating closely with Saab’s receivers Anne-Marie Pouteaux and Hans L. Bergqvist and others in the management team of the bankrupted company.

“I believe Brightwell has sufficient funding to cope with this deal” says Victor Muller to TTELA.

Zamier Ahmed notes that Brightwell has been monitoring Saab’s development for more than six months and it is the high quality brand name and technology that is attracting their interest. Brightwell with their strong focus on environmental issues, feels that Saab’s technology fits in well with their policies.

They also have the full support of their own government for buying Saab and have previous experience in the automotive industry, among which is a 2010 acquisition of a European electric car. They are also negotiating with an American yet to be named manufacturer.

Updated: “Saab might get split up” – CLEPA and others interviewed by TTela

Update: A source close to SU says that Youngman are back in the race. The receivers are now back in touch with Youngman.

Several stakeholders are critical of the way the bankruptcy gets handled. TTela reports: “What are the receivers doing? That is the question posed by several stakeholders concerning Saab’s bankruptcy – Youngman’s advances are rejected, the Swedish stakeholders receives no feedback while Semcon could be getting their hands on some of the estate.”.

Fredrik Sidahl, CEO of FKG (An interest group for suppliers in Scandinavia), points out that the receivers were invited to visit Youngman’s facilities in China, but will not be represented today. “Every proposal for a complete solution should be carefully examined”. He notes that the receivers have not been in touch with neither himself nor any of his member companies.

Instead, among others, IF Metall (one of the unions) will meet with Youngman.

Lars Holmqvist, CEO of CLEPA, is also critical: “One can voice different opinion of Youngman, but they are the only ones truly familiar with the case after having spent half a year negotiating with the company. For other interested parties it would take months before a complete solution could be presented. There is no available time for that.”

“Youngman has a plan involving the next generation 9-3, producing a new Lotus in the Saab factory and access the Phoenix technology. They should be considered.”

Read more

Request for an additional receiver to be processed by the court

The court today announced that they have received a petition from the receivers to add another receiver to the team. The receivers have nominated Kent Hägglund from DLA Nordic.

“Circumstances exists that could mean a conflict of interest for both receivers in questions pertaining to the ‘SAAB’ trademark, the griffin logo and the SAAB company [“firmadominanten SAAB”] and related issues.” (from the petition filed by the receivers)

It is also worth pointing out that the unions have been talking about requesting new receivers since they feel they have not received enough information. The workers need information pertaining to salaries, and be told when they should apply for unemployment benefits.

Hopefully adding a third receiver will speed up the process. This seems to be a better solution than start over from scratch with a completely new receiver team.

At least one of the receivers have owned several Saabs. I believe Saab’s future is in the hands of someone with good intentions. And that counts for a lot.

Saab’s receivers meet with TTela

News are coming in fast today…

The receivers have been interviewed by TTela.

They are very impressed by the new 9-3, have met with Victor Muller and says there are serious interested parties that want to acquire Saab. At the same time, it is impossible to make any promises. TTela met with Saab’s receivers Hans L Bergqvist and Anne-Marie Pouteaux in Gothenborg.

Read more

Friday evening local newspaper snippets


TTela kept themselves busy this week.

They have interviewed Jason Castriota, talked to the supplier’s organization and this morning got a comment from GM.

Saab’s chief designer Jason Castriota says they were busy putting the final touches on the new 900 (née 9-3) when the bankruptcy was declared. “We had put in extra effort to get it ready fast given Saab’s predicament”.

Read more

Request for new administrator

Saab and Guy Lofalk have this afternoon filed a request to the court requesting a new administrator to replace Guy Lofalk.

In a fax to the court, Lofalk writes:

I have not had the opportunity to evaluate the new financial plan in detail. My view is that the new structure agreed upon between Saab and Youngman is such that it deserves a new administrator to be put in my place.

Lofalk goes on to explain the need for a fresh approach to the question at hand.

Lars-Henrik Andersson is nominated and has agreed to the assignment should the court decide to let the reconstruction continue.

SVD has more on this development (english translation).

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