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SAAB

Over 1,000 may have to quit at Saab

The Saab defence group has reported a net operating profit of 1,657 million kronor in 2004 - up from 1,293 million kronor in 2003. Despite this the group expects to give notice to 1,000-1,500 of its 12,000-strong workforce within the next two years.

Published: 22 February 2005 10:16 CET

The cutbacks are a direct result of the plans to streamline the Swedish Armed Forces.

“We will have to raise exports instead,” commented chief executive Åke Svensson. He added that “much of Saab’s financial strength will be used for new international acquisitions”.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

CARS

Former Swedish Saab bosses appear in court

Swedish car maker Saab's former CEO Jan Åke Jonsson and the firm's former head lawyer Kristina Geers have appeared in court in Vänersborg in west Sweden, accused of falsifying financial documents shortly before the company went bankrupt in 2011.

Published: 2 September 2015 14:46 CEST
Updated: 2 September 2015 16:26 CEST
Former Swedish Saab bosses appear in court
Saab's former CEO Jan Åke Jonsson. Photo: Karin Olander/TT
The pair are accused of falsifying the paperwork at the height of the Swedish company's financial difficulties at the start of the decade.
 
A third person – who has not been named in the Swedish media – is accused of assisting them by issuing false invoices adding up to a total of 30 million kronor ($3.55m).
 
According to court documents, the charges relate to the firm's business in Ukraine and the paperwork in question was signed just before former CEO Jan Åke Jonsson resigned.
 
Both Jonsson and Saab's former head lawyer Kristina Geers have admitted signing the papers but denied knowledge of the Ukranian firm implicated in the case.
 
All three suspects deny all the charges against them.
 

Saab's former head lawyer Kristina Geers. Photo:  Björn Larsson Rosvall/TT
 
Saab filed for bankruptcy at the end of 2011, after teetering on the edge of collapse for nearly two years.
 
Chief prosecutor Olof Sahlgren told the court in Vänersborg on Wednesday that the alleged crimes took place in March 2011, when Saab was briefly owned by the Dutch company Spyker Cars.
  
It was eventually bought by National Electric Vehicle Sweden (Nevs), a Chinese-owned company after hundreds of staff lost their jobs.
 
The car maker, which is based in west Sweden, has struggled to resolve serious financial difficulties by attracting new investors since the takeover.
 
In October 2014 it announced it had axed 155 workers, close to a third of its workforce.
 
Since 2000, Saab automobile has had no connection with the defence and aeronautics firm with the same name. It only produces one model today, the electric 9-3 Aero Sedan, mainly targeting the Chinese market.