Monday, August 29, 2011

Saab: Victor Muller is Hopeful of Quick Solution, but Reorganization is also on the table



For the second time in two years, Saab is perilously close to the edge of the cliff. But it may be rescued, once again, at the 11th hour: according to a company source close to negotiations with Chinese investors, Saab Automotive executives are “very optimistic” about raising funds this week.

Now haven’t we’ve heard that before? Only this time, Saab Chairman Victor Muller told Automotive News that he is seriously considering reorganizing the company to protect it from its creditors. And this comes just three days after Saab’s head of technical development, Mats Fagerhag, denied the Swedish public radio’s report that the carmaker is seeking court protection.

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