New Cadillac to be built in Trollhättan

According to the Financial Times, General Motors has plans to build a new small Cadillac car, aimed at European drivers, in the Saab plant at Trollhättan.

It is estimated that some 30,000 – 50,000 cars could be produced a year but a more sensible figure in the first year of production would be 10,000 cars.

“We currently produce 110,000 cars in a plant designed for 175,000 cars, so we could easily deal with this production as well,” comments Christer Nilsson, information director at Saab.

According to Mr Nilsson, a decision to produce a European Cadillac in Trollhättan is not linked in any way to the decision on where to produce mid-sized saloons in Europe from 2008.

Proventus on the offensive

Swedish investment company Proventus acquired 8.5 per cent of the shares in Finnish media giant Alma Media on Monday for some 720 million crowns. Proventus now controls 15.2 per cent of the voting rights in Alma Media, which in turn has a holding of 23.4 per cent in TV 4, Sweden’s biggest commercial channel.

On Friday of last week Proventus acquired 15 per cent of the shares in TV 4 from MTG and in the past week the company has invested just over 1.2 billion crowns in a bid to become a player on the Nordic broadcasting market.

Bonnier, Sampo and Proventus together control 46.1 per cent of the capital and 57.2 per cent of the votes in Alma Media.

For Norwegian Schibsted, which made a bid of some 6 billion crowns for Alma Media just before Christmas, Proventus’s acquisition must come as a blow, comments DI.

Crestor possibly linked to a death

The cholesterol-lowering drug Crestor may be linked to the death of a patient, Astra Zeneca said on Monday.

Staffan Ternby, information officer at Astra Zeneca, said yesterday that there is no proven link between Crestor and the fatality but at the same time a link cannot be ruled out.

Forests damaged by storms

SCA, Holmen and Stora Enso (all net purchasers of timber) can now expect lower timber prices following the damage to Sweden’s forests as a result of the storm that drew in across the country this past weekend.

The National Board of Forestry (Skogsvårdsstyrelsen) estimates that some 50 million cubic metres of forest have been damaged in south and central Sweden.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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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.