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Archive for Category: "Saab"
Saab Looks to Build a Better Future
It would appear that in the middle of a spat of disorder, Swedish Automobile N.V. and Saab Automobile have finally caught a break. A few days ago, the long-standing automaker filed an appeal against the original denial of their voluntary reorganization request. The Swedish Court of Appeal gave the go-ahead to review the request and [...]
Saab Fights Back
In the middle of all the turmoil that has plagued Saab Automobile and Swedish Automobile N.V., the company plainly refuses to give up. Not too long ago, news was released that two Swedish unions filled for the bankruptcy of their division of Saab. After the automaker received news that their appeal against the initial denial of their voluntary [...]
Saab’s Appeal Gets The Go Ahead
A couple of weeks ago, Swedish Automobile N.V. and Saab filed for voluntary reorganization. The Swedish government denied the request and Saab immediately issued an appeal. The struggling car company stated that the District Courts were far too strict in its original ruling and mentioned that it was not attempting to “abuse” the Swedish Company [...]
Saab’s Drama Continues
Last week, Saab Automobile and its parent, Swedish Automobile N.V. filed for voluntary reorganization to allow themselves time to fix their financial problems. They were waiting for the go-ahead from the Swedish government all while fighting creditors, anticipating outside funds from Chinese companies Youngman and Pang Da and trying their best to pay blue-collar worker [...]
Saab Files For Voluntary Reorganization
Swedish Automobile N.V. and its child, Saab Automobile, have filed for voluntary reorganization. The process will be self-managed but under the supervision of Swedish law. Over the next three months, Saab will scramble to secure short term funding and finally become stable enough to restart production at their Trollhättan, Sweden plant. The company is confident that [...]
Chinese Investors Seek Over Half of Saab Stake
According to Bloomberg reports, the financially troubled Swedish manufacturer Saab, has some potential investors interested in its crippled company. Pangda Automobile Trade Co., China’s largest auto dealer, and automaker Zhejiang Youngman Lotus Automobile Co. plan on buying a combined 53.9 percent stake in Saab. The companies will be seeking approval from China’s economic planning agency. [...]
The Saab Saga Continues
Saab Automobile and its parent, Swedish Automobile N.V., announced some more bad news as they issued a notice to a number of their employees. As the Swedish company scrambles to find the funds needed to get back on their feet, it would appear that help hasn’t fully come through. Saab was forced to inform their Trollhättan, Sweden workers [...]
Swedish Regulator Goes After Saab
Saab Automobile and Swedish Automobile N.V. have been scrambling to find the proper funds to pay its massively growing debt. After the news that Saab would be pulling out of the Frankfurt Auto Show, more despair hit the manufacture as Sweden’s Debt Enforcement Agency has begun collecting against Saab. They had a deadline of Tuesday [...]
Saab withdraws from Frankfurt Auto Show
Saab has announced that it will not be participating in the Frankfurt auto show next month. The Swedish company will instead be focusing its attention towards ongoing money woes and the restart of its factory in Trollhatten, Sweden. A cash shortage halted production in March. According to an official at the regulator, Saab will face [...]
Saab Gets Closer to a Restart Date
Saab North American President, Tim Colbeck, has given the automotive industry a little more insight into when the company could restart production. For months now, the Swedish company has been working with outside investors to gather up enough money to not only begin producing vehicles at their home plant, but to simply pay their employees. [...]
