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SAAB

Saab crisis a “national concern”

The fate of Saab’s plant in Trollhättan, which faces possible shutdown, is a matter of national concern, said Peter Augustsson, chairman and president of Saab Automobile, this week.

“I don’t share the view that this is a fight between Trollhättan and Rüsselsheim or between Sweden and Germany. In reality this issue is much bigger: it is essentially an issue on where industrial production must be driven – in Western Europe or in Asia,” said Augustsson.

“Sweden is the country in the world that is most dependent on its automobile industry. We rely more on the industry than the USA, Germany or Japan,” he continued, adding that this is why the crisis at the company is a matter of national concern.

“A lot of our investments in production, training and infrastructure have been on the automobile industry, so much so that it would be devastating if it can’t even be profitable in the long term.”

Total silence on industrial espionage case

Neither Ericsson nor the Ministry for Foreign Affairs yesterday wanted to comment on the industrial espionage investigation being kept under wraps by prosecutor Tomas Lindstrand, according to SvD. On Monday the Stockholm City Court ordered the detention of a Hungarian man suspected of industrial espionage.

The man, who is not a resident of Sweden, is alleged to have collected company secrets and sold them on during the period October 2002 until July this year.

This developed as the Swedish Security Service (Säpo) warns Swedish companies against an increased risk of corporate spying, reports DI.

Migrant labour exploited at steelworks

A new wage scandal with foreign workers in Sweden performing jobs under poor conditions has been exposed by the Metal Workers Union (Metall) in Norrbotten. A total of 24 Slovenian workers dismantling Inexa Profilers plant at the steelworks in Luleå haven’t received a single öre since August 16. Metall representatives in the area are now calling for a blockade at the plant until the wages are paid.

Real estate broker – the new dream job?

Applications for licenses and registration in the real estate agency business have risen by nearly 50 per cent this year, according to figures obtained by DN. This is worrying the real estate brokers committee, which fears it won’t have enough time to investigate the industry.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

CARS

Former Swedish Saab bosses appear in court

Swedish car maker Saab's former CEO Jan Åke Jonsson and the firm's former head lawyer Kristina Geers have appeared in court in Vänersborg in west Sweden, accused of falsifying financial documents shortly before the company went bankrupt in 2011.

Former Swedish Saab bosses appear in court
Saab's former CEO Jan Åke Jonsson. Photo: Karin Olander/TT
The pair are accused of falsifying the paperwork at the height of the Swedish company's financial difficulties at the start of the decade.
 
A third person – who has not been named in the Swedish media – is accused of assisting them by issuing false invoices adding up to a total of 30 million kronor ($3.55m).
 
According to court documents, the charges relate to the firm's business in Ukraine and the paperwork in question was signed just before former CEO Jan Åke Jonsson resigned.
 
Both Jonsson and Saab's former head lawyer Kristina Geers have admitted signing the papers but denied knowledge of the Ukranian firm implicated in the case.
 
All three suspects deny all the charges against them.
 

Saab's former head lawyer Kristina Geers. Photo:  Björn Larsson Rosvall/TT
 
Saab filed for bankruptcy at the end of 2011, after teetering on the edge of collapse for nearly two years.
 
Chief prosecutor Olof Sahlgren told the court in Vänersborg on Wednesday that the alleged crimes took place in March 2011, when Saab was briefly owned by the Dutch company Spyker Cars.
  
It was eventually bought by National Electric Vehicle Sweden (Nevs), a Chinese-owned company after hundreds of staff lost their jobs.
 
The car maker, which is based in west Sweden, has struggled to resolve serious financial difficulties by attracting new investors since the takeover.
 
In October 2014 it announced it had axed 155 workers, close to a third of its workforce.
 
Since 2000, Saab automobile has had no connection with the defence and aeronautics firm with the same name. It only produces one model today, the electric 9-3 Aero Sedan, mainly targeting the Chinese market.