July 22, 2011 in News
From GP.se (original article here):
To allow for the EIB-Loans Saab Automobile was divided up into several different companies. One of them was Saab Parts with spare parts and Saab Tools for machines and tools.
According to the half year report, Saab Parts has an invoice to Saab Automobile of 315 million SEK (~ €34,6 million). The accountants have issued a warning that these money will go lost if Saab Automobile would go bankrupt. This is also the reason why Saab Parts will not get a credit-rating by the company Business check.
Saab Tools has an unpaid invoice from Saab Automobile of more than half a billion SEK. The accountants are also issuing warnings here that Saab Tools might not survive if the main company fails.
Lennart Ståhl, CEO of Saab Parts in Nyköping, say to GP that he does not know what those 315 million SEK are about. But to a local newspaper in Sörmland, he admits that the mother company has borrowed money. Saab Parts have 280 employees and a turnover of about 1,5 billion SEK during 2010.
The half-year documentations also states that Saab Parts have given away a sum of 680 million SEK to the mother company.
– Because we are a security for the EIB-Loan we’re visited by the National Debt Office twice per year. They were her a month ago and had no issues with our business say Ståhl.
Borrowing money from a daughter-company is legal but in times of financial difficulties it also means a great risk according to the accountants.
Rumors of parts being shipped from Saab Parts during the three days of production when Pang Da visited Saab is denied by Lennart Ståhl.
– Saab and Saab Parts usually borrow parts from each other.
Joachim Lind, CEO of ANA claims that there is a huge lack of spare parts.
– We have had big problems getting parts during the spring and summer especially with the new 9-5 model. We have discussed the issue with Saab Parts. When warranty issues are in concern, we use original parts but for other repairs we are forced to use parts from third party suppliers.
Ståhl denies that there is a general lack of spare parts.
– some parts are out of stock but we have no general problems. It’s not like we have an empty warehouse because parts are sent to the Saab factory.
Note from SaabsUnited: We have during the past months received several reports from several dealerships around the world and car-owners that their cars are left standing still due to the lack of parts. I, myself have had problems getting parts.