Swedish Delegation Heads to China on Sale of Saab

Published on January 19, 2012 by Tycho de Feijter

Saab China

Well, there we go again…

A Swedish delegation made up of government officials, representatives from the Swedish automobile company Saab was on the way to China on Wednesday for meetings with Chinese car manufacturer Youngman which is interested in purchasing Saab, reported Swedish media.

Senior officials from Vastra Gotaland region and Trollhattan city where the Saab company is located are on the delegation group. The meeting between the delegation and Youngman will be due on Thursday and Friday, said the Swedish newspaper Gothenburg Post.

“We are going to China to present what the region can contribute on the issue. We will do all that we can to get the best solution for Saab,” said Birgitta Losman, an official from the regional government.

According to Swedish Daily, the mayor of Trollhattan Annika Wennerblom will present her willingness and support for Saab to find a new owner.

Since earlier 2011, Saab had been trapped in difficult situation that production in Trollhattan, western Sweden, has stopped and wage payments have been late for months. A Swedish District Court approved Saab’s bankruptcy petition last month.

According to a statement from Saab’s parent company Swedish Automobile in Holland on Wednesday, four members have left the board of directors because they could not reach an agreement with the president Victor Muller on how to finance the parent company after Saab’s bankruptcy, leaving Muller as the only one in his board.

Via: CRI.cn.

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