FName=Workbooks("Test1.xlsm").Sheets("hello").Range("C3").Value & "\" & Workbooks("Test1.xlsm").Sheets("hello").Range("C2").Value & "_TestSave.xls"
msgbox Fname ' check if the name is correct
ActiveWorkbook.SaveAs FileName:=Fname, FileFormat:=xlExcel8, Password:="", WriteResPassword:="", _
        ReadOnlyRecommended:=False, CreateBackup:=False