Saab’s main blue collar union has requested the Vanersborg District Court in Sweden set up a committee to oversee the automaker’s financial transactions as it theoretically moves to start production again by next February.
IF Metall has had its members’ fingers burned on several occasions during the summer and early autumn as Saab was late with wage payments, but the prospect of major Chinese investment has led the union to ask for a formal committee to scrutinise the new financial transition.
“When you get this company reconstruction, if it is complex and a lot of issues, you can file to the court to make one of those committees so it follows this process and obligates the company to inform about the financial status,” IF Metall legal adviser Darko Davidovic told just-auto from Stockholm.
“I filed to the Court and the Court has to decide by 3 November. I will be really, really surprised if they did not make it OK. Now we have applied for two [representatives] from the union, some suppliers and the government and that is what the Court will decide.”
Saab secured promises of significant investment from Youngman and Pang Da yesterday (31 October), totalling an initial EUR650m (US$890m), but the unions have endured months of salary uncertainty leading to IF Metall’s move.
Davidovic also raised a potential date for Saab’s lines at Trollhättan to start rolling again of next February – although even if that deadline is met it will be almost a year since cars last left the factory in Western Sweden.
“They are talking about starting production in the first week of February,” he said. “I am more optimistic than I have ever been in the last months. It was really a big step yesterday.”