SWEDEN: Scandinavian suppliers asked to help Saab through debt issues
Scandinavian automotive supplier body FKG says Saab has asked its members not to increase the debt burden on the automaker as it looks to secure sufficient financing to restart production.
FKG managing director Sven-Ake Berglie participated in a conference call with Saab today (20 June) in which the troubled manufacturer estimated it could restart work in two weeks.
"They [Saab] will go out to every single supplier today [20 June] and ask them to participate in an agreement where the total debt Saab has to each supplier should not increase," Berglie told just-auto from Sweden.
"From the supplier side I don't think we have much of a choice. The alternative is bankruptcy and for suppliers, bankruptcy will mean zero. There is at least a small chance they will succeed."
Berglie added it was "obvious" the only solution for suppliers was to accept the proposal as long as the Saab debt to suppliers did not rise.
The FKG chief added today's call highlighted the proposed partnerships with Chinese distributor Pang Da and manufacturer Youngman that could inject a significant amount of finance into Saab and that the automaker was assuming this might happen in mid-September.
Much speculation has centred on a new purchaser for Saab property - following the decision by Russian businessman Vladimir Antonov not to become involved.
Discussion has mentioned Swedish real estate company Hemfosa as a potential buyer, but calls by just-auto to the company today (20 June) were not answered.