Volvo acquires Saab’s technical director image

One after the other of the engineers at Saab are disappearing – Mats Fägerhag, manager for technical development quits and starts working at Volvo PV.

Mr. Fägerhag deciding to leave the Swedish automobile company is not widely seen as a great omen for Saab.

“It was a very difficult decision to make and I have had many sleepless nights. But right now I am not employed by any company anymore. And I feel it’s time for me to do something new.” Fägerhag said.

Dagens Industri, a Swedish financial newspaper, reports that Fägerhag will start at Volvo as early as sometime next week.

“I have done what I have been asked to do, to create a new platform-strategy.

There is a lot of competence still left in Saab. I’m not a key factor to if Saab can restart or not.” said Mats Fägerhag.

Saab’s bankruptcy administrator said at a press conference on Saturday that the company is dead but continues to bleed, while retaining hope that a buyer can be found.

“Saab is a patient who has long bled to death and the brutal truth is that the patient is dead.”

But the patient has not stopped bleeding,” Hans Bergqvist, one of Saab’s bankruptcy administrators, said on Saturday in a first public statement following the long-embattled firm’s bankruptcy in December.

Saab hit crisis point early last year after its 2010 sales fell short of target.
Its production line came to a standstill in April and it has not made a car since then.

Swedish Automobile tried several times to line up buyers or financing, but all efforts so far have failed.