Having geared up for production of Spyker Cars, the uncertainty surrounding ownership and future production has lead to management redundancies at CPP. It all started so well for CPP (Manufacturing, Global Holding et al) when it was announced that Spyker Cars had been bought by CPP. And it made a lot of sense. To all intents and […]
Saab: Muller used Antonov money to purchase Saab
Victor Muller has told Swedish TV that the money he used to buy Saab was funded by alleged fraudster Vladimir Antonov. In a revelation that will surprise no one, Saab ‘owner’ Victor Muller has revealed that the $74 million paid to GM when Spyker (as they then were) bought Saab was supplied to one of […]
CPP comments as investor Vladimir Antonov loses his bank. Arrest warrant issued.
Russian Vladimir Antonov – investor in Brendan O’Toole’s CPP – is wanted by the Lithuanian authorities after Snoras Bank was nationalised over asset stripping. Russian businessman Vladimir Antonov has been busy buying up a raft of car companies (and Portsmouth FC) in recent years. But there are now big questions about how he financed that. Vladimir Antonov […]
Saab production delayed until at least end August
Saab (Swedish Automobiles) has announced that production at Trollhatten will not now resume on 9th August. They hope to restart on 29th August. We’ve kept the faith with Saab so far, and we’ve been happy to report every time they tell us that Victor Muller has managed to charm another injection of cash for Swedish […]
Zagato & CPP in Joint Venture. Really, they are.
CPP and Zagato have announced that they are in a joint venture. But a dig round Italy’s Companies House would perhaps suggest otherwise. A couple of weeks ago we reported that CPP – owners of Spyker and Bowler – has quitely gobbled up Milanese Car Design Studio Zagato at some point in 2010. Which made sense. It […]
CPP buys Zagato
In a further acquisition, specialist car builder CPP (Coventry Prototype Panels) has acquired Milanese Car Design House Zagato for an undisclosed sum. In a move that seems to have received no coverage whatsoever, our favourite specialist car putter-together – CPP (Coventry Prototype Panels as was) – has quietly bought up Zagato. For those of you who are ‘Vlad Watchers’ this may […]
Saab drags in another €41 million – but it’s still not enough
The Saab financial problems continue, despite €28 million from a sale and lease back deal and €13 million for car sales to China in the last few days. It’s a tough call, knowing how often to report on the financial woes still engulfing Saab. Do we rush to run a story every time we get a bit of information in […]
Saab: Vlad Rides to the Rescue
The Swedish Debt Office has agreed to Saab selling assets and leasing back to ease their liquidity problems. The source of the finance is Vladimir Antonov. It was always an odd move by GM, or the Swedish Government, or whoever it was that decided the deal for Spyker to buy Saab could only go through […]
Saab 9-2 to use MINI platform – if Saab survives
Saab is still trying to find a solution to its liquidity problems, and reports that the Saab 9-2 will use the current MINI platform. Things are still torrid for Saab, with big lumps of downtime at Trollhattan as they struggle to get suppliers to deliver parts when those same suppliers are already owed big chunks of money. The […]
Saab close to collapse? No, says Victor Muller
Victor Muller has declared Saab is not close to collapse – despite production being halted last week – and will soon get additional funding from Vladimir Antonov. Last week we reported that Saab had stopped the production line because of unpaid bills; suppliers hadn’t been paid, component delivery dried up and cars couldn’t be completed. […]