Saab Lage Sweden: Update on the situation…

Update: 15: 07

A short update on the current situation in Sweden. I think we should hear the positive sounds about the situation. The administrator, Guy Lofalk, filed an application for demolition of the 10.00 Watch today. He sees the previous plan as no longer viable and proposes to the creditors a complete takeover of Saab by Youngman and Pang Da. With investors from China, Lofalk sees financing secured in the long term.

Saab, or the owner Swedish Automobile, is against the plan and would like to recall Lofalk as an administrator. The court will now hear the creditors, get a statement from Saab, and decide accordingly. Not today and it seems certain that the reconstruction to the 31. October is continued.

Taking over Lotus Youngman and Pang Da Saab Automobile completely, the location Trollhättan is still safe. Because the trademark rights are closely intertwined with Trollhättan. Whether Muller's plan with an American hedge fund is the better alternative, everyone should decide for themselves.

Next week we will go on poker in Sweden. The fact that the survival of Saab with the Chinese for the administrator is considered safe, we have good chances in the future to see cars from Trollhättan. Even if the way will be a bit bumpy.

A short update, a friend from Stockholm has just told me. Lofalk will be in Beijing next week and will have an appointment there with the NDRC through the Swedish Embassy.

We are not all investment bankers or owners of hedge funds. At least no one has been outed here yet

We look at the new products from Trollhättan. There are, we should consider, exclusive pre-production models presented to us Saab Germany. But as Saab fan and driver we can form an opinion about the future and the new products of our brand.

Because that's the point. No rumors, no speculations. Cars from Sweden, that should count for us.

Text: tom@saabblog.net

12 thoughts on "Saab Lage Sweden: Update on the situation…"

  • I do not quite understand that some here prefer to have a hedge fund as owner.
    For them, it was and is never about the company and its products, but only about
    highest possible profits. With regard to SAAB, this would inevitably lead to a breakup and
    Selling out the profitable parts will result.

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    Hello Tom
    a very practical question:
    accepted the chinese buy, granted by the administrator,
    Saab up,
    Are the orders then finally executed or expire then?

    greetings from

    Carlson

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    vm alone, I'm sure you're right - that's not the point.
    he too will need and find financiers when the start is successful again.

    As a 100% chinese company, saab is not needed in europe - and not even in the usa.
    what makes saab special? it is certainly not just the cars, but just the difference, including the Scandinavian origin.
    If this spectacle is to succeed here for the Chinese, I will sell my new saab, since I am always decency not money and not every fault with the global unfung is excusable.
    What kind of thinking is that? it is necessary and then the means do not matter?
    not with me.

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      Hello Marcus!

      In the last few months (and actually already when the cooperation with GM was terminated) no financially strong corporation has really dared - even now there are actually only Chinese companies. These are sure to deliver a better concept than GM.

      At Volvo things are looking pretty good except for the discontinued convertible production. VM has so far not much to offer apart from its questionable corporations - although it originally brought the Chinese on board. One should keep this in mind.

      That they now want to take over the helm is not the fine English way, but in my opinion it has more advantages than disadvantages. For the SAAB community, it is simply of great importance that sufficient financial resources are available - only then, as is well known, can really be achieved. In my opinion, the Chinese side would also show skill with regard to the production sites - Trollhättan would certainly stick with it. This is the only way to continue using the name SAAB in the future and thus maintain the Scandinavian origin in a sales-promoting manner.

      DR

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    the salvation of saab certainly does not lie in a 100% takeover by the chinese. their long-term goals are far too opaque for that - we don't see this at volvo either.
    a vm is a saab-man with all his heart and saab is like few other brands, highly-contantional.
    for me, fact is: my new 9-5 will be my last saab, should the Chinese get through with the left-hand tour.
    vm did not make a fool like nobody else, he also made mistakes, but he did not deserve that.
    For moch, a hedge fund with one person involved is far more of a good thing than the other option.
    a guy lafok has done his job, like many others - a certain guy doesn't play a role here, and neither do emotions.
    Saab without emtions? unimaginable and very simple: unnecessary!

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      Car manufacturers that are represented worldwide are subject to very high competitive pressure and are forced to "howl with the wolves" - prospective buyers / buyers simply expect new models on a regular basis.

      This requires huge financial deposits that Muller and his "investors" cannot make on a long-term basis - the financial muscles are simply too weak.

      It's just a fact that the big Chinese companies have enormous financial power.
      Youngman-Lotus is one of these giants - if you want to manage financially in the future, there is no getting around it. All other donors raised so far simply do not offer a long-term perspective and are therefore unsuitable to keep a company with almost 4000 employees afloat. VM should also see this - SAAB is a few sizes too big for its plans.

      Greetings from Schleswig-Holstein
      Julie

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    A company that can no longer pay its debts ultimately belongs to the creditors. The administrator or, when it comes to the worst, the insolvency administrator works to some extent for the creditors. Depending on the legal framework, an insolvency administrator must submit the sale of assets (Saab is indeed a Swedish Automobile asset) to the creditors or the court that appointed him. It is also conceivable that the administrator submits a complete plan for bankruptcy of SWAN and sale of Saab at the request to end the reconstruction which is then granted in one go by the court. However, the exact procedure depends on the legal framework in Sweden.

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    Who decides - actually Guy Lofalk.
    VM has a huge problem, it can only offer short-term financing (this also applies to the American hedge fund), but by no means can secure the future of Saab. VM apparently has a different plan for which he needs more time he does not have and tries to gain time with short-term financing. Guy Lofalk, on the other hand, currently has the better cards to sell to the Chinese and, as the administrator of the reconstruction, also has the right to play them.

    What's better for Saab alla long is difficult to judge as VM's plans are not really at the table, but hedge funds are a dangerous financier. This is primarily about profit optimization and not the salvation of a brand; and how do you get rid of the ghosts you called?

    The sale to the Chinese, on the other hand, involves the danger that sooner or later it will be produced in China and not in Sweden anymore, which I believe SAAB will take for granted and would not help the workers in Trollhätten. But that's possible, proves Volvo.

    If I had to choose, I would still prefer the Chinese, but only on the condition that continues to be produced in Trollhätten.

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    Hi Guys
    Who finally decides on the sale of saab to the Chinese or the us investors?
    Greeting

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    The Dutchman has lost. Even though the Chinese will be completely in charge of Saab, there are very few car people and no financial speculators. So finally peace comes into the matter, and Volvo is so far under Chinese rule so not so bad. I see the thing positively.

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      One can only hope that "behind the scenes" the essential points between Lofalk and the Chinese side - including the administration there (as is well known, the final approval is still pending) - have been adequately clarified.

      If all of this is in the famous “dry cloths”, Muller would actually be left out. He would still have his other toy - according to reports, he will continue to function as boss at Spyker.

      If everything turns out as now assumed for SAAB automobiles, Lofalk would even be a real stroke of luck - finally the spook would be over!

      Joachim

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      I totally agree. The whole back and forth and the various half-baked plans A, B, C, D do not work in the long run. So you can't lead a car brand to success that claims to be honest and straightforward.

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