Kongsberg Automotive says despite not wanting to tip Saab into bankruptcy, it is equally unprepared to give money away as the battle between the automaker and its creditors heats up.
The Norwegian company that produces seat comfort, clutch actuation, gear shifts and transmission control systems among other sectors, was one of the first major suppliers named by Sweden’s debt agency seeking to recover outstanding money.
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The Kronofogden agency is attempting to thrash out a solution to the finance owed by Saab to the supplier as well as consultants Infotiv, following a missed deadline by the automaker today (17 August) to settle the debt.
“We wanted to formally start our claim…we wanted to be prompt and clear,” a Kongsberg Automotive spokesman in Norway told just-auto. “We are not supplying this company any more. We will look to Saab to come up with a solution that is financially sound. We are not going to give money away for free.”
“Our ambition is not to have some kind of bankruptcy in Saab. We are curious with what Saab is coming up with.”
The Kongsberg spokesman added Saab’s debt was between EUR500,000 (US$725,000) and EUR700,000, but this was in a context of the supplier’s EUR1bn turnover.
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By GlobalDataSaab’s missed payment deadline today triggered the start of an investigation by Kronofogden, with enquiries made by the agency to the manufacturer’s banks to ascertain the state of its current accounts.
There is the possibility Saab’s accounts could be frozen if further deadlines for supplier debt repayments are not met.
Responding to today’s developments, Saab said it continued to enjoy a fund of goodwill from most of its suppliers as it bids to set the conditions for a production restart.
“I don’t think there is anyone who wants to see Saab go under,” a Saab spokeswoman told just-auto from Sweden. “If you take a look at the vast majority of our suppliers, I think you find the same situation.
“Everybody would be in a better situation if Saab can get through this difficult period.”
