SHARE
COPY LINK
SAAB'S BANKRUPTCY BATTLE

SAAB

‘Turkish Saab’ would stay in Trollhättan: report

If Saab gets Turkish owners, the company will continue to build cars in Trollhättan, according to Turkish company Brightwell Holdings, which recently entered in the competition over the cash-strapped carmaker.

‘Turkish Saab’ would stay in Trollhättan: report

“We are interested in the whole company, not just small components or the brand,“ said Brightwell board member Zarnier Ahmed to Swedish business paper Dagens Industri (DI).

Ahmed and Brightwell are now waiting to hear from the two official Saab bankruptcy receivers to initiate negotiations.

According to Ahmed, the company intends to continue manufacturing cars in Trollhättan, although he couldn’t say on what scale.

The company needs to know more about the structure of Saab first. It might be that some components would need to be produced somewhere else in order to save money.

Ahmed is not anticipating any problems with former owners General Motors, GM, despite the company’s objections having constituted the largest obstacle for a Chinese sale, due to their blocking of the necessary transfer of technology licences to the two Chinese firms interested.

But Zamier Ahmed says that although familiar with Saab’s long history and tradition, he is critical to how the company was run prior to the bankruptcy petition.

“By the end, the company was handled very badly,” he said,

Despite not wanting to mention any names Ahmed said that in the end the responsibility lies with CEO Victor Muller, just as it would anyone else in his position.

“Mr Muller does not have a background in the car industry. To use an example: If you have heart trouble you see a heart specialist not an orthopedic surgeon,” said Ahmed to DI.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

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.