IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Friday, April 8, 2011

Swedish Government in meeting to discuss Saab's situation - solution near?

Updated with words from Håkan Lind at the Trade Ministry

TTELA has been in contact with press officer Håkan Lind at the Trade Ministry, and he said that the government is not planning any statement on the Saab crisis today.

And DI has also talked to Håkan Lind, and he said the same as to TTELA, but he also added that things can change:
- At least not for now. It can change quickly.

Earlier today there were some positive signals:
According to Dagens Industri web edition, the Swedish Government is now having a meeting where the crises at Saab is the agenda:

The government is now in a meeting and is discussing a swift solution on Saab Automobile's financial problems. The discussion concerns the possibility to rapidly increase Saab's capital with SEK 400-600 million so that suppliers will get their money and production at the Trollhättan factory can start up next week.

There is considerable pressure on Finance Minister Anders Borg, and the Minister of Trade Maud Olofsson, to solve Saab's financial problems.

The National Debt Office has divided its work into two parts. They have done a swift review of the short-term funding of Saab, where Saab will either get a governmental guarantee for new loans or can get access to use some of its assets collateral, assets which the government has tied up in collateral to the EIB loan.

The long-term problems and the possibility for Vladimir Antonov to become part owner with 30 percent of Saab with an investment of SEK 500 million, will take another one or a few weeks.

- We are working as fast as we can and have divided the work into a plan A and B and a plan, says Marja Lång, from the National Debt Office.

And also some less positive. TTELA writes that the situation is still very serious and that a solution might still be days away:

On Thursday there were high hopes of a speedy solution to the crisis at Saab. Now the signal from the National Debt Office is considerably gloomier.
- I'm not so optimistic anymore, says the National Debt Office's press officer Marja Lång
When TTELA spoke to the National Debt Office on Thursday the signals were hopeful. Exactly what gave rise to today's pessimism, she could not go into. But it was clear that it is a very complicated process to raise money for Saab.
- For example, if you are going to open up for other lenders, they must be endorsed by their owners. That is never easy. And you could say that the commitment to solve this problem is greater in Sweden than elsewhere.
Can one dare to hope for a solution?
- I really do not know anymore. Nothing would make me personally happier if we could say "now we have at least solved this problem." We are extremely aware that the situation is urgent. There is not much more time left when a company is at a standstill.