Spyker Cars changing name ?

[IVR007]

From today's interim results:

On February 24, 2011, Swan announced that it had signed a memorandum of understanding to sell the assets of the
Spyker Automotive business to the private UK holding CPP Global Holdings Limited. The sale has been suspended as of
the date of this report. Swan is still in discussion with the potential buyer regarding the transaction, but might also
consider other alternatives for the Spyker sports car business.

[IVR007]

CPP planning to move to to former Jaguar site in Coventry

From the Beeb:

BBC News - Car making may return to former Jaguar site in Coventry

Automotive firm CPP Global Holdings Ltd, manufacturers of off-road car Bowler, has signed a land purchase agreement.

The firm currently operates from five sites in Coventry, employs 250 staff, and plans to bring its operations to the site

Browns Lane was home to Jaguar car production until it moved in 2005.

CPP signed a memorandum of understanding to buy luxury car producers Spyker in February. This has lapsed but the firm is confident a deal will be completed.

The company is purchasing 23 acres of the Browns Lane site from Advantage West Midlands with planning applications to be submitted before the end of 2011.

It is hoped redevelopment will start in 2012.

[Mattjs33]

As a Spyker fan, this is irritating. The sale was announced in February, and it never got done? Doesn't Antonov own CPP? If he's so bent on helping Saab, wouldn't buying Spyker be an easy way to put some cash into Saab, which they so desperately need? What about all the Ailerons in various states of build that Rijk said he saw in his visit to CPP last year? They've just been sitting there?

Obviously SWAN doesn't have the capital to fund Spyker (barely keeping Saab alive), and CPP (Antonov) apparently can't (won't) buy Spyker. Doesn't anyone involved in the creation of Spyker care about it anymore? Makes me wonder why they even bothered with their recent airbag exemption extension request.

Unfortunately, given the situation at SWAN, and knowing now that Spyker is being left to twist in the wind, I don't have a whole lot of faith in ever seeing another new Spyker.

I hope I'm wrong.

[Laviolette GT2R]

Saab Automobile files for voluntary reorganisation

[OnTheLam]

That Victor likes a challenge!

[Laviolette GT2R]

Court rejects voluntary reorganisation

[F Spider]

That Victor likes a challenge!

Hahaha....... Well put.