Europe’s association of automotive suppliers’ (CLEPA) CEO says if people were expecting Russian businessman Vladimir Antonov to rescue ailing Saab, they had been “waiting in vain.”
News from the European Investment Bank (EIB) that a condition of its loan to Saab was made with the proviso Antonov not be involved, was greeted with howls of protest from the Russian side and confusion from the automaker in Trollhattan.
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“Everybody was talking about letting Antonov save the situation,” CLEPA CEO Lars Holmqvist told just-auto from Sweden. “If people are waiting for that, especially our members, then they are waiting in vain since the bank has taken a decision, they are not likely to change it.
“It has created a big stir in Sweden and people are accusing each other…of hiding things. People said we should let Antonov in – I said it not acceptable to the EIB and then the chief of the bank confirmed it [to] me. It is not that kind of a secret.”
Holmqvist added Saab still owed his supplier members around EUR100m (US$144m) and that he was “very cynical” about the situation. The CLEPA chief said he was advising his members to “sit and wait,” while ruling out any move to declare Saab bankrupt.
“There is nothing to be seen by getting Saab declared bankrupt because there is no money,” said Holmqvist. “I have only said to my members, if there is another offer from Mr [Victor] Muller, to be very careful and not enter into more debt.
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By GlobalData“He had some suggestion of 10% down-payment, then cash-on-delivery, but when I pushed it, cash-on-delivery was a week or two, I don’t recommend anyone to do it. I call it the take-away pizza.”
