Saab News: Current Saab situation in Sweden

Southern Sweden sinks in the rain, in Gothenburg today was “land under”. And it doesn't look much better at Saab either. Except for a small ray of light that I can see. But more on that later. The IAA's cancellation is a big blow. At least for many who were looking forward to the Saab 9-5 sports suit or the new 9-4x.

Like my little nephew, who would have come to the IAA for the first time this year and who is a huge Saab fan. Or for the Norwegian Saab driver I met a few weeks ago in the Saab center in Frankfurt. He drives from Oslo to Frankfurt - to see Saab. Well.

In Sweden it gets down to business this week. The friendly employee of the Kronofogden presents receivables due on Wednesday, Friday and next Monday. It is about 9 million crowns, which are now acute. The Kronofogden checks the bank accounts on credit, freezes possibly the existing funds and look for other useful things. Of course, an entry could be made in advance, but that has not happened to this day. On Wednesday anyway Kongsberg Automotive with 144.000 crowns and Infotov with 224.000 crowns on the plan, reports the news agency TT.

The head of the Kronofogden in Uddevalla, Hans Ryberg, announced that the investigations would be carried out “so that the company would suffer as little damage as possible”. He also wants to meet with Saab and try to solve the problems.

The IAA appearance is canceled. I think, also the start of production. Gunilla Gustafs of the Saab press service said today that no date for the start is certain. For me a clear rejection for the 29. August. The newly issued shares are for Saab's current issues, while the previous issue was for salaries. So come next week, the next new edition for new salaries.

The game can be played until GEM's € 150 million is used up. It is interesting that the stock is holding up well. Today more than 17.35 million shares have been placed by 2.7:1991 p.m. Who is buying - and why? Incidentally, I think it is out of the question that Antonov is behind GEM. GEM has been around since 16 when Antonov was only XNUMX years old. Antonov's little locust is the Gemini Fond, the cute little animal was stopped by the EIB. As a result, Saab's July wages stalled. However, our friend from London could be the buyer of the day.

Where is the promised light at the end of the day? Of course, one wonders what the whole thing is for. The permanent new emissions, the factory in idle. It would be simpler to lay off employees, sell the assets and patents and go out with the money. In addition the high personal risk for Victor Muller. If all goes wrong, he should seek a curse point away from the EU, in a country that does not deliver.

I think you see a real chance for a new start in Trollhättan. And you can see the possibility of cashing in the short term - or long term. Otherwise you wouldn't take the risk. Because Antonov and Muller are not from Caritas. Or just Saab fans. Both have tangible economic interests. If the thing had no chance, both would be far away. The knowledge of the day. A little light. But at least.

Text: tom@saabblog.net

One thought on "Saab News: Current Saab situation in Sweden"

  • Hi Tom,

    Long-term cash is only possible if SAAB-Automobile is doing well again worldwide - otherwise the acquired shares will be meaningless for the eager share buyer in the future.

    So you are probably right with your statement that later profits should be made with the shares (that is only possible if the “shop” is in good shape).

    In the short term you can not really cash in, as the rates of increase of the shares are still quite modest (for the ratios of VM + VA).

    One can therefore assume that after further issues the long-awaited production will start again (currently more than 15.000 orders !!!) and then the “shop is booming” or the share value will rise (for the current buyer of the shares it will just such a profitable business).

    The start of production could therefore deliberately drag on - but it must not be too far off, otherwise the reputation of the buyer, the employees and the dealers would slowly be completely exhausted!

    Greetings from Schleswig-Holstein
    Detlef Rudolf

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