First some news from the news agency TT, published in Swedish DI. Saab's debt to suppliers is estimated to over SEK 30 million.
It's between five and ten suppliers which hasn't gotten paid and therefor have stopped further deliveries to Saab.
- The debts amount to more than SEK 30 million, says Svenåke Berglie.
When asked if the financial difficulties are solved, Victor Muller says the following in a text message: "We're working on it".
According to TT, this involves strengthening both the short-term finances to resolve supplier problems, and raise more long-term cash to make the company more robust. A solution should be underway soon, perhaps even before the weekend.
One possibillity that is discussed in the article, is the GEM credit facility commented on this blog earlier.
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DI also quotes Eric Geers at Saab saying that they hope to get the production up and running again in the beginning of next week.
And the National Debt Office is working as fast a they can on Antonov's application to become part owner of Saab:
- We're working as fast as we can, but it takes time. In addition, the Government, EIB and GM also have to approve changes in ownership. There are a number of parallel processes that take several weeks, says Marja Lång, head of communications at the The National Debt Office.
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On the other side of the pond, the Wall Street Journal has an article that speculates on the possibillity of Fiat stepping up and getting a piece of Saab.
As remote an option as it may seem, Fiat could strike a deal, structured along the lines of its Chrysler involvement. It could renegotiate the company’s European Investment Bank loan, putting in relatively little money but providing plenty of know-how for a 20% to 30% stake and leadership in the business.
Fiat doesn't seem very likely, does it? Why would Fiat want Saab when they already have more than enough work ahead to increase the sales and make their two premium brands Alfa Romeo and Lancia profitable?
But the WSJ article is still worth a read.
