Volvo says it has identified machinery and test equipment at Saab that could prove "interesting" , although any purchase is dependent on receivers deciding to sell the defunct company in part rather than one entity.

Several bidders, including Brightwell Holdings and Youngman, as well as Mahindra & Mahindra, are circling Saab, but administrators have yet to decide what to do with the company.

Volvo may have to go through the Swedish government however, as its National Debt Office (SNDO), has pledges in Saab's parts business and tool manufacture.

A loan guarantee of US$324m by the SNDO was recently repaid to the European Investment Bank, with the government noting it should be able to recoup that money through a tools and parts sale.

"We have identified there is equipment within Saab that might be interesting for us," a Volvo spokesman told just-auto from Sweden. "Machinery and test equipment are an example of what might be very interesting."

"We are in contact with the receivers. As we understand it, the main track is to sell the company as a whole...but if there is a situation where the company will be sold in parts, well, then we are going to make new discussions with the receivers."

As well as its parts interest, Volvo is also continuing its recruitment process that is involving some ex-Saab employees, although it stressed it was not targeting the bankrupt manufacturer's engineers specifically.

Volvo is looking to recruit around 400 engineers this year and has already taken on 50 from Saab, with a further 50 being evaluated as redundant employees in Trollhattan seek new work.

"We don't have a box we tick - 'Saab guy or non-Saab guy,'" said the Volvo spokesman.