Saab CEO Muller lambast the Chinese for not keeping their own side of the termsMonday, 24 October 2011
With no option left, the CEO of Saab automobile, Victor Muller and the Board of Swedish Automobile had to tear up the agreement earlier entered with the Chinese companies Youngman and Pang Da. At least, they have the money now and they had to play the game within their own camp after realising that Saab was encircled.
"It was totally unacceptable. Not only because of the sum, but also because of their terms and conditions. Everything when the Messiah came back with was the list of things that would be met in order that they would pay. As such we would never have seen any money,” said Victor Muller, confirming that the offer was at around Skr200 million.
AdvertisementVictor Muller is very disappointed, accusing the Chinese companies of violating the agreement which the parties agreed during two days of emergency negotiations in Stockholm two weeks ago.
According to Muller, they were to pay $10 million, about Skr66 million, but not the remaining $37.5 million, about Skr250 million. Instead, the message came that they wanted to buy the whole of Saab.
At the same time, the Company, Swedish Automobile was bound by an exclusive agreement until 15 November and will only negotiate with Youngman and Pang Da.
"There are ongoing discussions between the various parties and the lawyers to see what solutions are available. I will personally not be involved until the conditions exist for a business to really take place, "said Victor Muller.
That he would not be present in Stockholm is also tied to personal reasons. Before report could locate him, he was already on the plane on his way to Holland.
"I will travel to Holland for my father's funeral.”
Victor Muller argues strongly that Swan has been holding their own sector of the agreement met with the Chinese.
"Absolutely, 100 percent. We have done what we have committed ourselves to do. To suggest otherwise would be unfair. "
Under the deal from last summer, Pang Da was expected to pay €45 million up front for nearly 2,000 cars to be delivered in September. That Saab has not been able to live up to.
"How would we be able to do so? We cannot manufacture any cars because they are not set up with funding. Had they paid, we would have been operating with production long ago. But they are not paying. They are not keeping to their own side of the promise. We can not build any cars because we have no cash, "said Victor Muller.
That they want him off, he said that "I do not know. I do not think it's a personal thing. They do not want to someone else to do. They want the company for to themselves, "he says.
By Scancomark.se Tea
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