Swedish Debt Office Gives Green Light To Saab Automobile

Posted on 05. Nov, 2009 by Ryan in 2000-2009

The Swedish Debt Office has given Saab Automobile the green light according to Eric Geers, information manager at Saab who had an interview recently with Swedish Radio.

Informationsdirektör at Saab Automobile, Eric Geers. Photo: Cecilia Bergil / SR West

Saab Automobile get the green light by the Debt Office for their securities. The company is expected to have sufficient assets to the state should be able to provide guarantees for the loan of the European Investment Bank (EIB). Thus, one major obstacle in the loan process eliminated.

Eric Geers: We anticipate that the process is completed in the coming weeks

But the EU Commission, which examines the conditions for the loan now, want more answers. It can delay the process, but the Saab Information Director Eric Geers believe that the timetable will hold.

- It’s a process you go through and now we answer the questions that the commission does, “he says.

It’s a race against time now, GM has said that the sooner the end will leave you Saab to their fate. But according to Geers so should not the commission of new issues put some sticks in the wheels to get clear solution.

The Commission’s approval is a prerequisite for a continued future for Saab.

And now is the teaching ability of Saab in the new test to declare that Saab was not about to become bankrupt before the economic crisis broke out.

For the purposes of the Debt Office to declare that the State guarantees are not designed in a way that unauthorized benefit a company in Sweden and distorts konkurensen.

Eric Geers assessment is that we should probably meet quite soon without much delay.

- I do not want to speculate on whether it is delayed or not. We expect the entire process is completed in the coming weeks.

Tags: Automotive Component Group, Cecilia Bergil, clear solution, Eric Geers, EU Commission, Information Director, information manager, Investment Bank, saab, Sweden, Swedish Debt Office