Scandinavian suppliers association FKG says it is baffled by a decision from receivers handling Saab’s bankruptcy not to accept an invitation from Youngman to attend talks in China.
A Swedish delegation is flying out today (17 January) for talks with Youngman – the Chinese manufacturer that was eventually thwarted in its attempts to rescue Saab following vehement objections from General Motors concerning licencing its technology – but it appears the receivers are not on board the flight.
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“The lawyers handling the bankruptcy [Delphi, Wistrand and DLA Nordic] were invited, but they did not go and I don’t understand why,” FKG managing director Frederik Sidahl told just-auto from Stockholm.
“The trip is scheduled for today and there are people going, but the lawyers are not on that flight. If there is anything possible, if someone will take over Saab or at least the production facilities, then they should listen to that…instead of selling machines in pieces. It is not good business.”
The FKG chief said he had attempted to talk to the lawyers without success as his members are owed considerable sums of money following Saab’s recent bankruptcy.
The supplier body is also in discussions with the Swedish government concerning the issue, but the administration has a passive role according to Sidahl. “They don’t interfere with the process,” he said.
The supplier body managing director added Saab workers had been paid salaries up to 19 January by the insurance system in place, but sounded a note of caution concerning Saab’s future given the odyssey of false dawns the automaker has endured in its quest for survival.
“[There is] nobody who could even show an interest,” he said. “There is just a bunch of lawyers.”
Turkish private investment company Brightwell Holdings recently told just-auto it was evaluating Saab, although it would likely shift a major slice of the Swedish manufacturer’s supply chain out of Europe should any bid for the bankrupt automaker prove successful.
Brightwell is currently undertaking due diligence while Saab is in the hands of Swedish receivers, but insists it is not looking at a “piecemeal operation” or to break up the company.
However, in a bid to slash some of Saab’s prohibitive European costs, Brightwell said it could place a substantial proportion of component sourcing outside Europe and in Turkey, although final production would probably remain in Sweden.
Neither Youngman nor the receivers were immediately available for comment.
