Saab on the road to independence

Trollhättan. As a result of strategic analysis performed on the GM business Saab Global, the Board of Saab announced today that will apply for reorganizing the company to create a business completely independently prepared suitable for investment.

Reorganization is a legal process autogestionat led by an independent administrator Court appointed by the Swedish will work closely with the management of Swedish Saab. As part of process, Saab will submit a proposal for reorganization, which involves focusing units of design, engineering and production in Sweden. This proposal will be presented creditors within three weeks from completion. After court approval Swedish, the reorganization will be made within three months and will require funds independent to be realized.

“We have explored and will continue to explore all options available for financing and / or selling Saab and finally was chosen as the formal reorganization of the best solution to create a truly independent entity that is ready for investment, “said Jan aké Jonsson, Managing Director of Saab Automobile AB.” With completely new 9-5, 9-3X-4X and 9 ready for release in the next year and a half, Saab has excellent foundation for strong growth. Reorganization will offer time and ways to get the necessary help to bring these products on the market, minimizing the time impact on liquidity Saab GM. ”

Financing for the restructuring of the company will be provided during the entire process reorganization and attracted both public and private. Saab will continue to operate normally and in accordance with the formal reorganization process, Government providing partial support during this period. Restructuring should not be no impact on other GM operations. Details of progress will be provided as What steps are completed.

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