Wednesday, November 23, 2011

Chinese buyers submit business plan for Saab

Broke the previous Swedish carmaker Saab is to receive hundreds of
millions of euros by 2014 and thus make a profit. This emerges from a
business plan submitted to the Chinese buyer of the company. The
District Court Vänersborg submitted the paper will now be presented to
creditors of the bankrupt company. Reject them from the business plan,
the bankruptcy protection is probably lifted and smashed Saab.

The Chinese automaker Youngman and auto wholesalers Pang had since
submitted a letter of intent on Friday, according to which they want
to take over Saab for 100 million euros from the current owners
Swedish automobiles. Over the next two years, the investors want their
business plan, put 610 million euros in the carmaker. Immediately
should therefore flow € 50 million, also a loan from the European
Investment Bank in the amount of 63 million €.

The stagnant since a half year production at Saab to the ideas of Pang
Da and Young Man, according to start next year. First, the investors
want to build then a year 35000-55000 cars, by 2016 it will be 200 000
cars per year. The Saab's main plant in Trollhattan is to be retained
according to business plan, but will also build cars in China. The
People's Republic will also be the most important market for Saab, a
third of the investors want to sell cars there.

But according to Saab's business plan also cuts to come: Of the 3,700
jobs will be eliminated 500 jobs. In addition to one billion kroner
(111 million €) can be saved. No information made to investors about
how Saab will repay its debt: The automaker has in claims to about 220
million € Schools suppliers.

The Dutch sports car maker Spyker had bought Saab 2010, he later
changed its name to Swedish automobiles. It was not the buyer to turn
the control to Saab: In the spring the first time, manufacturers had
to stop production because suppliers are not delivered because of
outstanding invoices. Since June, the bands are definitely still in
Trollhattan.