Saab Automobile Suppliers Want Koenigsegg To Speak Up

Posted on 01. Sep, 2009 by in 2000-2009

Saab Automobile suppliers want Koenigsegg to emerge from the silence and share their details about how soon they will be paid for their work.

As it stands right now, there are payments back to suppliers that are taking over 2-months, which is completely unacceptable and puts these suppliers at the risk of bankruptcy which in turn would create problems for Saab’s production.

Here’s the piece from TTELA once again about this situation, roughly translated.

“Time to crawl out of the bushes” Subcontractors call for information from Koenigsegg

The subcontractors that work with Saab in Trollhättan can no longer hear the silence from Koenigsegg as they are not giving answers to questions about Saab’s business plans and financing, writes SvenÃ¥ke Berglie, president of Automotive Component Group, in a debate article in Dagens Industri.

– No company is willing to risk their money, “says SvenÃ¥ke Berglie.

Two weeks ago, Vänersborgs district court’s decision to end Saab’s reorganization. It also meant that suppliers were no longer guaranteed to get paid by the Saab out of the box. Now it is instead about payment periods of 60 days or even longer. For subcontractors, this implies a risk. During the reconstruction period was the Saab protected from bankruptcy, but now there is a potential threat of bankruptcy and when you are under contract, but payments on its debts.

Suppliers’ association Vehicle Component Group has recently demanded answers from Saab buyers Koenigsegg on Saab’s finances, but received no response. Buckling question is whether the Saab has a financing solution that the company can pay its bills.

РWe have invited them to Major Supplier Day, but not even received a reply, telling Sven̴ke Berglie.

By contrast, Saab’s managing director Jan-Ake Jonsson on FKG’s big conference where vehicle manufacturers and suppliers meet. But it is the owners who FKG want answers.

Yesterday was increased tone when FKG’s chairman Christer Palm and SvenÃ¥ke Berglie in an article said that the suppliers are beginning to doubt the Saab’s ability to pay. There are too many questions unanswered, they consider. Among other things, the case of Saab and Opel’s collaborations in the future, was the Saab 9-5 convertible and is produced and where the capital will come.

It is not sustainable to deliver in small volumes and credit periods of up to 78 days is not acceptable, writes Palm and Berglie.

– Suppliers wonder how safe it is, “says Berglie.

Large suppliers can acquire assets of several million crowns towards the Saab with just a few days’ supply. There is a high risk and too many questions about Saab’s future for the subcontractors.

– We’re not naive, some plans may not disclose, said Berglie.

But under these conditions should Koenigsegg to calm markets and provide more information, feel Berglie. He points out that most of a Saab car is produced by subcontractors. Saab is dependent on “full support” from the subcontractors for the company to survive.

– It’s time to crawl out of the bushes, “says Berglie.

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