IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Monday, September 12, 2011

Blue-collar union IF Metall will not file for bankruptcy today

The blue-collar labor union at Saab, IF Metall, has announced that it will not file for bankruptcy in Saab today Monday.

"After talks with Victor Muller on Sunday evening, we got a confirmation that Saab today will file an appeal asking that the Court of Appeal for Western Sweden examines the company's request for reconstruction. The Court of Appeal has said that the matter will be handled promptly. Under these circumstances I do not feel that it is in our members' interest that we file for bankruptcy today," says IF Metall Chairman Stefan Löfven.

"I still have hope that Saab will be allowed a reconstruction. Then IF Metall's members will get their wages quicker through the wage guarantee and the company will be given a much needed breathing room," says head of IF Metall at Saab Håkan Skött.

"We expect the Court of Appeal to carefully examine and assessing the statements made by both Pang Da and Youngman concerning their interest and substantial investment in Saab. One can not ignore the importance of Saab in the automotive cluster in the region. Saab's survival is not just about the 3,400 employees at Saab, but many more in the supply chain, in service, trade and transport," say Stefan Löfven and Håkan Skött.

Today's deadline for Saab to file the appeal at the Vänersborg District Court on the reconstruction rejection is at 15:30 CET this afternoon according to TTELA. If filed by then, the appeal will be sent to the Court of Appeal for Western Sweden this afternoon and then the appeal will hopefully be looked into tomorrow. If Saab does not meet today's deadline, then the next chance is tomorrow. Saab has until 29 September to file the appeal.