Saab Auto Creditors Seek Collection, Swedish Agency Says
Sweden’s Debt Enforcement Agency has been asked by eight companies to collect debts owed to them by Saab Automobile, the Swedish carmaker forced to halt production amid a cash shortage.
“We will start the collection process in a few days,” Christina Lindberg, a case worker at the agency, said today by telephone.
The companies that have requested the agency to enforce debts include Kongsberg Automotive AB, a Norwegian company that makes car-seat parts, according to a document provided by the enforcement agency. Lindberg said she didn’t know the total amount that Saab owes.
Saab was forced to halt production in April because of a cash shortage. The company is negotiating payment and delivery terms with suppliers and aims to restart manufacturing in the week of Aug. 29, it said July 21.
“We have discussions with all the suppliers to resolve this as soon as possible,” Eric Geers, a Saab spokesman, said by telephone today. “We have come far in the discussions.”
Last week, another supplier, SwePart Verktyg, asked a Swedish district court to put Saab’s tools unit in bankruptcy after it had failed to pay a debt. Saab then said it resolved the issue by reaching a payment agreement with that company.
Swedish Automobile NV, Saab’s Dutch owner, fell as much as 8.8 percent and was down 4.2 percent, or 7.3 cents, at 1.68 euros at the 5:30 p.m. close in Amsterdam.
In total, 104 debts from Saab have been registered with the collection agency, Lindberg said. Some companies have filed more than one debt claim, she said.
To contact the reporter on this story: Ola Kinnander in Stockholm at okinnander@bloomberg.net
To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net
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