SWEDEN: Saab consortium moves towards pole position as Youngman thought to pull out23 May 2012 | By: Simon WarburtonReliable sources in Sweden are strongly indicating to just-auto a Chinese/Japanese consortium is rapidly moving into pole position to take over Saab, with Youngman's bid rumoured to have collapsed.The development follows a rapid escaltion of talk in Stockholm today (23 May). Chinese manufacturer, Youngman has pulled out of the bid with speculation citing difficulties in securing govnernment approval from Beijing. Indian manufacturer, Mahindra & Mahindra is also thought be interested in Saab, but has consistently declined to comment to just-auto concerning any bid."I was contacted last night by some people who are interested parties and they are talking about... trying to manoeuvre so the consortium could take over Saab rather than Youngman," Lars Holmqvist, the recently retired former CEO of European automotive supplier body, CLEPA, told just-auto from Sweden."As usual there are the conspiracy theories the government is promoting this initiative - something is moving, you don't know what - from the people very close to this process."Holmqvist has only just stepped down from the top job at the immensely powerful European supplier association and still retains a close interest - and contacts - with key players in Brussels and Stockholm but is expressing reservations if the consortium pursues an electric route for Saab."First of all, from a supplier point of view, it won't give anything - this is a very long shot," Holmqvist said. "I would much rather see people trying to get Saab going as a manufacturer of cars."That would be good for Sweden, good for suppliers and good for [Saab hometown] Trollhattan. It is dragging on, I don't think the lawyers can take much more time now, it is getting into [an] almost ridiculous situation. You can't keep the patient much more alive."Other reliable sources have previously told just-auto the Swedish government has met the Japanese arm of the consortium that aims to possibly produce an electric 9-3 Saab in Trollhattan."For the sake of everybody involved, when you pass into the second half of this year, it [time] will be extremely limited," said Holmqvist."Volvo is quite interested in buying bits and pieces but if you want to sell it, not as a going concern but as a company, you are running out of time."Neither Youngman, its lawyers or the Swedish government were immediately available for comment.© 2012 All content copyright just-auto.com.
SWEDEN: Government staying tight-lipped on Saab electric consortium backing24 May 2012 | By: Simon WarburtonSwedish government officials are distancing themselves from rumours gaining currency the administration is backing an electric consortium willing to take over Saab.Speculation gathered strength yesterday (23 May) events may be moving rapidly towards a resolution of Saab's tortuous saga that saw the automaker enter bankruptcy last December.Former European automotive supplier CEO, Lars Holmqvist, who was closely involved trying to protect his members' interests with Saab, as well looking to find ways to recover what are thought to be upwards of EUR150m (US$189m) debts, also alluded government sources may be involved."I was contacted by some people who are interested parties and they are talking about... trying to manoeuvre so the consortium could take over Saab rather than Youngman," Holmqvist told just-auto from Sweden."As usual there are the conspiracy theories the government is promoting this initiative - something is moving, you don't know what - from the people very close to this process."However, the government, which has come under a sustained barrage of criticism for its handling of Saab's bankruptcy and subsequent mass redundancy in its home town of Trollhattan, declined to be drawn on whether it was behind what is thought to be a Japanese/Chinese electric consortium."It is a process the Swedish government is not in charge of - it is a process the receivers are in charge of," an Enterprise Ministry spokeswoman told just-auto from Sweden. "We have seen all those rumours - our response is the same as it has been before - we make sure we have the information we need and the contacts we need."Main Saab blue collar union, IF Metall, recently told just-auto an answer concerning prospective bids was expected by mid-June - but with unemployment in Trollhattan among its members soaring to 40% - swift action is needed to bring a resolution to the saga."We are prepared to be door openers...and to explain what it is like to open a business in Sweden," said the Enterprise Ministry spokeswoman."When it comes to the exact process of what will happen to Saab, then you have to talk to the receivers."Speculation has also centred on the Swedish government applying for permission from the European Union for grants to help Saab workers, although no-one at the Labour Ministry in Stockholm was immediately available to confirm if Brussels had been approached.© 2012 All content copyright just-auto.com.
