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.

Friday, September 16, 2011

One bankruptcy request withdraws, and four new handed in

The supplier Edithouse Filmworks AB which on Wednesday handed in a request for Saab to be put into bankruptcy to Vänersborg District Court has now withdrawn the request according to Dagens Industri.

Yesterday the CEO of Edithouse Filmworks, Niclas Bergman, said that they were ging to meet Saab yesterday afternoon. And now it looks like they have had a good talk and come to an agreement.

This means that there was one less bankruptcy filing for Saab to worry about. The two bvankruptcy filings from the labor unions Ledarna and Unionen remains.

And then a little later today Dagens Industri reports that four new bankruptcy requests have been filed with Vänersborg District Court. This time it is the Japanese supplier Takata-Petri with its divisons in Germany, Romania and Poland that is behind the four requests. The debts in question amount to EUR 1.9 million.

Four new filings are bad news of course, but on the other hand, this does not change anything. Saab needs to be allowed a reconstruction to survive. A reconstruction would stop the bankruptcy hearings concerning the unpaid wages that will start in just 10 days and also the hearings concerning these four new filings that will be held a couple of weeks from now.

A piece of encouraging news about the future is the report that the Chairman of the blue-collar labor union IF Metall, Stefan Löfven, together with head of IF Metall at Saab, Håkan Skött, met the CEO of Pang Da, Pang Qinghua, in Frankfurt yesterday. And when Swedish media talked with the men afterwards, they were both very pleased with the meeting.

"There is no question about it, they are very serious and are in this for the long run. For me it is obvious that they want to make a real effort," said Löfven to Swedish news agency TT.

"They feel very strongly for the brand and believe that everything will be sorted out and that we are headed for a good future. They are interested in following us into that future," Håkan Skött told TTELA.

When asked what impression Pang Qinghua made as a person, Skött said:

"We only talked about business and it is hard to say after just meeting him for the first time. But he was very outspoken on the issues we dicussed. I hope there will be more occasions to meet him."