The Saab employees were nervous today, as reported by a good friend from Trollhättan, who has been providing us with news for months. The friend is very close and today he was able to “grasp the tension with his hands”, as he says. Because the fate of the small, Swedish car manufacturer depends on the decision of the appeals court in Gothenburg.
Today, shortly after 13 p.m., the redeeming news and the longed-for OK came from Volvo City. Saab gets a second chance and can reorganize itself under the protection of the Swedish state and with state money. The Swedish Minister for Economic Affairs sees no problem in this, because even after the previous reconstruction phase, which was still owned by GM, the state funds were repaid by Saab.
Thus, the business plan presented by Saab, which should make the Aut0 manufacturer profitable even in small quantities, is accepted. The court-appointed administrator will now invite Saab creditors for talks over the next 21 days. The primary goal is the short-term re-recording of car production in Trollhättan, which the administrator will seek together with the Saab management.
Saab gains valuable time through the reconstruction phase. Because Saab is close to the investor funds of Pang Da and Lotus Youngman. The internally named date of Saab is the 14. October. The majority takeover by these partners will secure the future of Sweden in the long term, but at the same time open up new markets.
Saab employees now get their money very quickly, within 3 - 5 days, thanks to the state wage guarantee.
Is it a good day for Saab today? I think so, because the time of uncertainty has come to an end and it is the first time in months the famous light at the tunnel end, which we can clearly see.
For now, the loyal Saab customers and dealers have the chance to see a brand-new Saab rolling into the yard in just a few weeks. Wonderful.
For the blog, it is not possible to comment daily on the latest economic news. Reviews and the latest developments from Trollhättan could finally be the goal.
Wonderful prospects, right?