With the Swedish cult brand, we live through ups and downs, with the depths currently clearly having the upper hand. The TTELA, local newspaper and reliable source in Trollhättan, today writes about a possible restart of production in the summer. TTELA, you make my day!
Basically, it's about the suppliers who are ready to do whatever they can to make Saab restart. Both the European supplier organization CLEPA with 550 member companies and the association of Swedish automotive suppliers FKG with 75 member companies are interested in a happy ending in Sweden.
This is good news, even if time is of the essence. Because Saab is still bleeding every day and it has to be done really quickly with a solution. Interested parties for the company are ready, bids have been submitted and the decision-making phase is now starting. According to a friend from Sweden, the administrators want to have viewed and rated the offers by the end of February. Then it goes into the final round of negotiations with one or two interested parties.
It's interesting what goes on behind the scenes. There is Brightwell Holding, which fights for Saab with a lot of public, Victor Muller-style. There is a Central European prospect and Mahindra & Mahindra who operates in the style of their company with all discretion. And there is Youngman. Youngman is the group that is most familiar with the subject and one of the most serious bidders.
The big Youngman delegation has been in Sweden for almost two weeks and has used the time well. A few days ago, I mentioned that Youngman employees visit suppliers and conduct exploratory talks. An important detail. Youngman, which is remarkable, is the only Saab prospect who has already had discussions with partners and suppliers. This confirmed Fredrik Sidahl of the supplier association FKG today again in the press conference.
Summer as a start of production is an ambitious goal. Suppliers expect a minimum of 12 weeks until production runs and components are on their way to Sweden. Other Saab partners, such as Lear, have closed their plants on site and need to be replaced by new suppliers. If we expect a sale by the end of March, then I expect a start in September. A nice perspective, because Sweden is especially beautiful in autumn. For the start of production a trip to Trollhättan? We will see.
Investor Youngman works steadily and reliably on the big plan to acquire Saab. Youngman has always been a reliable partner in the past and has always kept promises. That makes the investor sympathetic and I think Saab would also be in good hands with the Chinese. We will see.
In Sweden there is a rumor that BMW or Volkswagen might be interested in Saab. BMW has denied on demand of TTELA today, hesitant. Volkswagen should also have no interest in Saab. A denial is a denial or not. How do you say so nice: What do I care about my gossip from yesterday.
More about the other Saab bidder, the Brightwell Holding, will follow as soon as there is time to write.