Press Release: Saab Automobile Enters Agreement With Hawtai

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Press Release: Saab Automobile Enters Agreement With Hawtai

Postby bullet » 03 May 2011, 09:22

Trollhättan, Sweden: Following yesterday’s announcement that Spyker Cars N.V. (Spyker) secured its short term funding, Spyker announces today that Spyker and Saab Automobile AB (Saab Automobile) signed an agreement with Hawtai Motor Group Company Limited (Hawtai). This agreement conditionally secures medium term funding and includes financing in the form of subscription agreements in the amount of EUR 150 million as well as a strategic alliance for China including joint ventures on manufacturing, technology and distribution.

* Spyker, Saab Automobile AB and Hawtai Motor Group sign agreement on strategic alliances partnership with respect to manufacturing, technology and distribution in China, subject to definitive transaction documentation
* Spyker will enter into a subscription agreement with Hawtai in the total amount of EUR 120 million for in aggregate 24.6 million shares as well as a EUR 30 million convertible loan, subject to definitive transaction documentation and certain conditions

As a part of the transaction Hawtai will invest EUR 120 million for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. The remaining EUR 30 million will be in the form of a convertible loan agreement in the amount of EUR 30 million with a 6 month maturity, an interest rate of 7% per annum and a conversion price of EUR 4.88 per share. The transactions are subject to agreement on definitive transaction documents and certain conditions, which include consents from certain Chinese governmental agencies, the European Investment Bank and the Swedish National Debt Office. As part of the transaction, Tenaci Capital will convert EUR 42 million of its current loan to Spyker into share capital in Spyker at EUR 4.88 per share, thereby substantially reducing Spyker’s interest burden.

Victor Muller, CEO of Spyker and Chairman of Saab Automobile, said: “The partnership with Hawtai allows Saab Automobile on the one hand to continue executing its business plan since we secured the required mid-term financing subject to meeting certain conditions, whilst on the other hand it allows Saab Automobile to enter the Chinese car market and establish a technology partnership with a strong Chinese manufacturer.

“We expect that Saab’s unique brand values based on its aviation heritage, Scandinavian origins and innovation-driven character will do very well in the Chinese market. Our driver-oriented vehicles appeal to a whole new group of independently thinking customers who appreciate Saab’s advanced designs, safety and responsible performance.

“With Hawtai’s clean diesel engine technologies and production capacity, and its ambitious development programs, we have found the right partner to develop the Saab business and build a solid relationship.”

Mr Richard Zhang, Vice President of Hawtai, said: “This is a great day for our relatively young company which was founded ten years ago. The partnership with the iconic Saab brand will give us access to innovative technologies and an international network which would have taken us decades to build. On the other hand we have a very strong Chinese manufacturing and distribution infrastructure which we will make available to our new partner Saab Automobile. Our participation in Spyker, Saab’s parent company, demonstrates our commitment to the future of Saab Automobile as a premium European car manufacturer.”

Founded in 2000, Hawtai is a China-based privately-owned automotive company with its headquarters and R&D centre located in Beijing, and two production facilities located in Ordos, Inner Mongolia and Rongcheng, Shandong Province. Hawtai currently has an annual production capacity of 350,000 vehicles, 300,000 clean diesel engines and 450,000 automatic transmissions. By 2015, Hawtai aims to have raised this capacity to 1 million vehicles, 1 million engines and 1 million automatic transmissions, and to have established itself as a global leading automotive company.



Note to Editors:

Saab, or Svenska Aeroplan Aktiebolaget (Swedish Aircraft Company), was founded in 1937 as an aircraft manufacturer and revealed its first prototype passenger car 10 years later after the formation of the Saab Car Division. In 1990, Saab Automobile AB was created as a separate company, jointly owned by the Saab Scania Group and General Motors, and became a wholly-owned GM subsidiary in 2000. In February 2010, Spyker Cars N.V. of the Netherlands, acquired the company from GM as an independently-run business.

Saab cars reflect the brand’s unique Scandinavian design ethic, which is fused with its aircraft engineering heritage. The company is a global premium car maker with a distinguished history of innovation. It is recognized for its pioneering role in turbocharging, as well as occupant safety and the introduction of flex-fuel technology through Saab BioPower. Saab Automobile AB currently employs approximately 3,800 staff in Sweden, where it operates world-class production and technical development facilities at its headquarters in Trollhättan, 70 km north of Gothenburg.

CONTACT:

Saab Automobile Press Office

Tel: +46 (0)520 279797
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby andybumbu » 03 May 2011, 21:00

pe stirile0-100.ro sunt detalii, am sa incep sa invat chineza :lol: , e de future :mrgreen:
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby bullet » 03 May 2011, 23:46

Pai....long story short chinezii, in schimbul banilor, o sa construiasca noul 9-3 la mama lor pentru piata chineza, iar Trollhattan-ul va produce pentru restul lumii. Pe langa asta o sa aiba acces la ceva tehnologie suedeza.
Saab va avea acces la niste foarte performante motoare clean diesel, printre care si cel V6 de la VM Motori, proiect anulat in 2009, din lipsa de fonduri.

PS Hawtai nu va putea avea mai mult de 29,99 % din Saab, asta pentru cei care se ingrijoreaza ca ar putea deveni o companie chineza.

Saab up ! 8) 8)
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby Edy » 04 May 2011, 10:06

Preluarea pachetului de 30% din actiuni de catre chinezi poate fi de bun augur pentru SAAB, nu numai prin prisma accesului la motoare diesel curate, dar si deschiderea catre o piata foarte importanta cum ar fi china. Din cate stiu lui Volvo ii merge foarte bine de cand au trecut chinezii la carma ...
SAAB 9-5 AERO, 2004, 2.3T 250cp, negru
SAAB 9-3 AERO, 2007, 2.8T Hirsch 275cp, negru
SAAB 9-3 AERO COUPE, 2002, 2.0T Maptun Stg3 270 cp, gri
SAAB 9-3 AERO COUPE, 2001, 2.0T 205 CP, negru
SAAB 9000 AERO, 1996, 2.0T 185 cp Italian Aero, albastru
SAAB 9000 Anniversary, 1997, 2.0T 150 cp, albastru
SAAB 900i SEDAN, 1987, 2.0i, 116 cp, verde
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby mountin » 04 May 2011, 14:03

93-ss aero,2004
nordic stage3,265hp
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby bullet » 12 May 2011, 10:45

Se pare ca galbejitii s-au tras pe cur:

Zeewolde, The Netherlands, 12 May 2011 – Spyker Cars N.V. (Spyker) announces today that Hawtai Motor Group Company Limited (Hawtai) and Spyker terminated the agreement by and between Hawtai, Spyker and Saab Automobile AB (Saab Automobile) with respect to funding and strategic partnership. However, discussions are ongoing.

As a result of this termination, Saab Automobile may enter into a strategic partnership with Hawtai or another Chinese party on manufacturing, technology and distribution in China. As indicated in the press release of 3 May 2011, the transaction with Hawtai was subject to definitive transaction documentation and certain conditions, which included the consent of different stakeholders. Since it became clear that Hawtai was not able to obtain all the necessary consents, the parties were forced to terminate the agreement with Saab Automobile and Spyker with immediate effect. The parties will continue their discussions about a possible cooperation, however now on a non-exclusive basis.

Spyker and Saab Automobile continue to work on securing short and medium term funding. To that end Spyker and Saab Automobile are negotiating equity and debt financing and/or technology licensing with various (strategic) Chinese partners.

BAIC indicated that it does not have any problems with Saab’s ongoing discussions with other Chinese partners.

Discussions continue with the European Investment Bank (EIB) on completion of the current EUR 29 million drawdown under the EIB loan facility, on obtaining EIB consent for the sale of Saab property released under the collateral of the Swedish National Debt Office (NDO) and on various conditions proposed by the EIB. As soon as the EIB drawdown or other equivalent funding is confirmed, Saab Automobile plans to restart production depending on the outcome of discussions with its suppliers on terms to resume supplies of materials and services to Saab Automobile.
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby andybumbu » 12 May 2011, 11:07

3000 de miliarde de dolari e rezerva de stat a Chinei, ce dracu sa faca cu atatea lichiditati, mai le dau la USA, mai cumpara ceva porturi, insule, in Emiratele Arabe baga la dolarei, mai cumpara un Volvo, niste actiuni Saab :lol: , tavalugul merge inainte, keep walking-in varianta romaneasca sa traiti bine :evil:
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby mrq » 12 May 2011, 15:37

azi am primit bomba asta de link...

Se confirma ?

http://0-100.hotnews.ro/2011/05/12/saab ... la-hawtai/
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby bullet » 12 May 2011, 16:27

Ce am scris eu mai sus e comunicat de presa, deci e cat se poate de adevarat :cry:
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Re: Press Release: Saab Automobile Enters Agreement With Haw

Postby mrq » 16 May 2011, 10:16

CONTINUAND cu cosmarul asta de CHINEZI...

http://0-100.hotnews.ro/2011/05/16/tele ... -va-salva/

Acum nu numai Saab-ul va fi cumparat ci si equal share din Spyker :(...
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