Saab Lage: Court says “No” to the reconstruction

Update: 14: 46 / 15: 05 / 15: 30 / 16: 10

What a black day. For Saab, the news from Sweden is not what we hoped and hoped for. The district court rejected the request for reconstruction. In theory, Saab Automobile AB can now appeal. Theoretically…

Closer to this is the risk of bankruptcy and the possibility that one of the unions will make this application today or tomorrow. The trade union federations are obliged to their members who have been waiting for wages for days. Wages are due to state guarantees only in case of bankruptcy or reconstruction.

The court in Vänersborg has said that it has made very difficult decision. The reasons for the refusal are the following. One sees the financing by the Chinese partners as uncertain and does not believe that the funds can be made available by other groups. The resumption of vehicle construction can be seen as not secured. According to Judge Gunnar Krantz, the purpose of the reconstruction is not fulfilled.

The high level of Swedish politics came forward in the form of Minister for Economic Affairs Maud Olofsson. And today, for the first time, Ms. Olofsson and the blogger agree. What a miracle on such a pitch-black day. Because Ms. Olofsson was surprised by the decision of the court, which she describes as unusual. When asked by the reporters whether the decision would be the end of Saab, she replied with the sentence “Nej, det kan man inte säga”. That's also my opinion. No, we are not finished yet.

Saab himself seems to want to take legal action and will probably call the court to do so. A current press conference is running (15: 30), here's the SWAN press release:

Zeewolde, The Netherlands, 8 September 2011 - Swedish Automobile NV (Swan) announces that the District Court in Vänersborg, Sweden today rejected the proposal for voluntary reorganization by Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobiles). Saab Automobile is disappointed with the ruling and will appeal the District Court's decision.

Swan wants to update the market tomorrow on further developments.

The situation of the Saab employees is really dramatic. Saab employees argued that unions should not file for bankruptcy. “Vänta med konkursanökan” - please wait - the request to the trade union associations. I can understand the despair and sympathize.

The chairman of IF Metal, Stefan Löfven is currently on the (15:33) on the way to Trollhättan. The union is holding an emergency meeting there. It is currently uncertain whether Saab Automobile AB will go bankrupt. Hakan Scott, the IF Metal man at Saab calls the situation "tragic and sad".

It's tough, because I've seen how hard Saab is to survive. Everything is open, even in the negative sense.

Guys, please stay calm - even if it's very sad today. Our hearts and thoughts are with the employees and their families in Trollhättan, for whom it is particularly difficult today.

We stay tuned, we don't give up. We continue to report for the community, even if the mood goes south ...

News will follow when they come.

Text: tom@saabblog.net

34 Comments
Newest
Oldest Most Voted
Inline feedback
View all comments
Carlo
Carlo
12 years earlier

How many SAABs are in the world? Half a million? If every SAAB owner made 150 Euro loose, 75 is Euro. Is that enough to survive and preserve the value of each SAAB?
Can nobody organize this?

Alex
Alex
12 years earlier

Hello F-RU

Benelli belongs to the Chinese !!! 😉 and Trabant are still there! Luckily not with 2 Takter!

They will ignite the plan "D" and then it goes off ... we'll see ...

So keep your head up ...

F-RU xxxx from Frankfurt
F-RU xxxx from Frankfurt
12 years earlier

I do not understand the progressive Swedes, where is the state, where are the Chinese, where are the Americans, where is Ikea. A provincial judge decides on a global brand. Where is the former parent company? Saab drivers now need psychological support, what now, can someone tell me. We have 3 Saabs, 9-5, 9-3 / 1 and 9000CSE. I never and never sell them. Now how would it look with spare parts, should we buy up a few more scrap-ready to be able to access spare parts if there is no longer an "S" from Saab anywhere. Can't be true that Saaab has the same fate as Trabant, Wartburg, Simca, Talbot, K-70 and other rust runs overtaken. Fiat has bought Masseratti, Lambo, Ferari, Benelli etc., VW has Seat and Skoda, BWM and VW are fat everywhere, the French in Romania etc. Total shame for them
Provincial Penny in Sweden. I never dared to dream. I'm really sad.

Search Saab
Search Saab
12 years earlier

Well what should you write there? It's like it is, life goes on in Trollhättan as well. Basically, I understand the reasoning of the court, but I still have not given up hope.

Hello

Marco

kobimex
kobimex
12 years earlier

I am frustrated. What is ultimately logical and also partly understandable must simply not be the last. Where is the European bank that wanted to help bridge the gap? Where are the lights on the horizon that VM was talking about? Damn hoe. We really need the Russian enthusiast who, in addition to enthusiasm (like VM), also brings money ...

J. Marquardt
J. Marquardt
12 years earlier

Has Saab D already spoken to its distributors about today's events? Does anyone know?

Alexandros
Alexandros
12 years earlier

Right now my wife saw a Fiat Croma station wagon and said: “It doesn't look bad either.” God forbid! We need a station wagon from next February ... until then a medium-term solution for Saab has to be found!

Andrei
Andrei
12 years earlier

I could really cry! Where are the Chinese millions ?! All that remains is to pray ...

Saab'ler
Saab'ler
12 years earlier

It's actually hard to believe, I tell everyone who wants to hear it - or not, that my favorite brand will and MUST survive. Imagine the political uprising in Germany with 3-400 jobs, but this is about several thousand ... but Philmos has actually thoroughly clarified the economic side.
We in the family also know NO alternative to our 4 Saab's and don't want one either.
We also hope there is actually no reasonable reason to let this brand die unless there are some economic tussles in the background ...
At this point, I wanted to say for a long time, a big thank you to Tom with this huge commitment.

Saabvandale
Saabvandale
12 years earlier

stay brave !!! Miracles are happening from time to time…
Since there is sad sadness for the time being, that a new Saab can not be ordered so quickly, I have to bridge the time with a Volvo.
Also you can then yes against a new 9 5 station wagon in payment. Hope dies last.

Anddeu
Anddeu
12 years earlier

Very tough news ...
Lt. SWAN press release is probably thinking about legal action.

Julie
Julie
12 years earlier

If Ms. Olofsson is really serious, she could show what she is capable of and help her make it happen.

Julie

PS: Dear judges in the district court, you really do not seem to have much idea of ​​the whole matter!

Philmos
Philmos
12 years earlier

But seriously: If I calculate it that way. Other automakers or even retailers like Ikea could buy Saab with all the losses from the petty cash. They certainly do not need more than half a billion for the purchase, and maybe another half as a bridge to the recovery. Even for a state, that would be peanuts, counting against what would cost the demise of an entire region. Various suppliers as well as the entire infrastructure of the region, which would be carried along, depend on an industrial production.

But nobody seems to be able to calculate or want this economic damage?

What becomes of deindustrialized zones can be studied very well in the former lignite mining areas of the GDR, but that was really unstoppable structural change.

But in the case of Trollhatten and Saab and West Sweden, I have my doubts. Nobody can seriously want that, because everyone is in the same boat, which is something you can study very well in the planned economy 2.0 called the EU ...

flower
flower
12 years earlier

Maybe someone will find out what's cheap from the bankruptcy estate, what's left of Saab and what's alright. That way, for the first time, there would be no chance for a new, healthy company.

Martin K.
Martin K.
12 years earlier

Should not be reanimated before the IAA convoy now?
We should set a sign!

polar
polar
12 years earlier

A lot of passion has probably been shed in Sweden for the auto industry.
This limited the chances anyway. It has been said that a new industry can grow fast there. The Swedish industry is not running so well at the moment. SAAB actually has little heroes as customers. But at some point the light will go out. Only one with a lot of money and airspeed can help here.
Today is a raven-black day!

Joachim
Joachim
12 years earlier

Where do the Chinese stay ????????

If you wait too long, you can no longer use “SAAB automobiles” under this name (see ROVER) - as is well known, the whole thing is tied to the Trollhättan location.

Buying factories etc. for little money and then building them up in China would not be a successful deal for anyone - maybe there will be a short-term financial solution after all.

Also we would order in the future except SAAB no so-called upper class product from European production.

Greetings from Hamburg
Joachim

Ulrich Beitel
Ulrich Beitel
12 years earlier

... I experience firsthand how a good friend who works at Saab is desperate. Many thanks to the A (udi) B (mw) M (ercedes) -Auto driving judges !!!

People, pick up your Saab, not just as an investment, but as a reminder of a very likeable brand.

It hurts.

Lars S.
Lars S.
12 years earlier

Of course it's bad. I don't know the word “give up”. Maybe there are other options.

Philmos
Philmos
12 years earlier

It is really unfortunate bad luck that just in this critical phase, the court of the company with all persons involved in the back falls or as one says in Austria, a hoe in the cross skin. Unfortunately, you can never rely on lawyers when things get critical. This expertise rarely proves when it comes to economic matters. The degree is very thin at every refurbishment, and it is precisely with this high-wire act that it has happened.

But maybe there is already a plan B, who knows. BMW has risen again after nobody believed in her anymore.

Alex
Alex
12 years earlier

... I still can't believe it ... What is going on in such a judge? What’s going on in the government…. Are they related to another “Swedish” car manufacturer who is the only one who wants to paint “Made in Sweden” on it?
I'm really sorry for the SAAB people ... but there just has to be a joker ...

Matthias
12 years earlier

Probably as a Saab freak I will have to buy a moped or a bike from Husqvarna !! No other vehicle will come into my house !! The junk can keep it (Mercedes, Audi, VW, Peugeot etc.) !!!! !!!!!

We have to keep fighting !!!!!!!!

MM
MM
12 years earlier

Are there convoys again?

I'm up there in Sweden next week and at such a time ... * hach ​​*

Marcus
Marcus
12 years earlier

it's the same everywhere:
Security in all respects, financing by the Chinese is not safe etc.
yes, if everything was safe, you wouldn't have had to go this way - what nonsense.
the swedish taxpayer would rather pay the thousands of unemployed, who will inevitably give in, who will not even pay attention to the resulting social problems.
it's about a chance - no more, and i'm sure that saab and everyone associated with it deserve this chance.

Marcus
Marcus
12 years earlier

to vm: now wouldn't be a bad time for the number with the hat and the rabbit ...

Philmos
Philmos
12 years earlier

Absolutely incomprehensible. In other countries, governments are helping their automobiles and even scrapping, and in that case it fails in a small court. I can not imagine that Germany would let VW, BMW or Mercedes die or France PSA or Renault. Nobody thinks of the costs for the new unemployed 3.800 in Sweden. For me as an economist incomprehensible.

It is also incomprehensible that no large corporation such as VW or BMW has acted, because with Saab they would have a truly global brand almost free at their doorstep, which they first have to build up with their own products with marketing billions, and in the case of VW or Audi apparently never make it ...

As a true Saab fan, I see no alternatives. Then I prefer to drive in public, before I get into Audi, BMW, Mercedes or Volvo and spend even more money.

TM7374
TM7374
12 years earlier

A very sad day. I respect all employees who were so loyal to SAAB until the very end. I hope that the state of Sweden will live up to its social obligation and help the affected workers, not only at SAAB but also among the many suppliers that are now facing difficulties.

Alex
Alex
12 years earlier

and then in this weather!
The judge will certainly also drive a BMW ...

I hope the Chinese get involved now or some billionaire ... there are 2-3 ...

studer
studer
12 years earlier
Reply to  Alex

That's unobjective, why should the judge drive BMW. What he drives is so unimportant and certainly does not contribute to the decision-making.

The fact is that in view of the enormous debts and the contemplated, comparatively small contributions of the Chinese partners hardly a serious solution is likely to be considered.

Despite this, I find the loss of SAAB in the automotive world unsatisfactory.

polar
polar
12 years earlier

The cat does not have seven lives.
There are just too many things that keep the engine from starting. my family drives 4 SAAB's. They have to last forever! What a pity !

Felix
Felix
12 years earlier

…I go back home;-(((

Gabi
Gabi
12 years earlier
Reply to  Felix

Me too ... You have to digest that first ... And bye

Leif
Leif
12 years earlier
Reply to  Gabi

It's all too much for me. My God…