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Is the Swedish Government ready to help Saab automobile?

Friday, 07 October 2011
The Swedish government is reported to be ready to give Saab automobile a helping hand in its reorganisation process. The Swedish business daily, Dagens Industri, reports that things are becoming more critical for the Saab compounded by the fact that it has not yet received the money promised by the Chinese. The Swedish government is now according to the paper, prepared to step in and give the firm some assistance.

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Prime Minister Fredrik Reinfeldt's former Secretary of State, Ulrica Schenström, now a consultant is working closely with the Saab administrator, Guy Lofalk, is said to have told Dagens Industri on Friday.

According to information provided to the newspaper, the government plans to solve the Saab's debt with the European Investment Bank, EIB. The aim that the debt office will convert Saab’s Debts with the Office to shares which will then be quickly sold to a Chinese buyer (s).

Saab administrator, Guy Lofalk has recently travelled to China and met with several Chinese companies, including Saab partner Youngman as well as Geely, which owns Volvo Car Corporation. It is said that Geely has previously expressed interest in parts of Saab.

While there has arisen a knot in the thread between Youngman and Saab, it turns out that the Chinese company has not paid the promised Skr640 million for technology licenses and said that Saab has not yet fulfilled all the terms of the agreement between the parties.

"If conditions are not met, we can not pay, "writes Rachel Pang, president of Youngman Automobile to Dagen Industri. The money from Youngman is necessary for Saab to cope with re – organisation. 
By Scancomark.se Team












































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