Swedish National Debt Office is the new owner of Saab parts unit

Article by Christian Andrei, on December 6, 2012

Saab Automobile Parts AB, a unit of bankrupt automaker Saab, will now be owned by the Swedish National Debt Office. In a statement last Wednesday, Bo Lundgren, chief of the National Debt Office, said that this unit is an “independent and solid company” that supplies Swedish spare parts for Saab’s passenger cars.

He added that the Swedish government will be a stable owner that seeks to further develop the unit. There were some attempts made to save the company but in December 2011, Saab filed for bankruptcy.

The debt office then turned into its biggest creditor. In early 2011, Saab was granted a loan by the European Investment Bank after guarantees were issued by the debt office on Saab’s behalf in return for pledges of shares in both the parts unit and the tool company Saab Automobile Tools AB.

Earlier in 2012, National Electric Vehicle Sweden (NEVS) acquired Saab. NEVS’ initial intention was to make the marque recover by offering a lineup of electric vehicles.

Saab said that it may start production of a gasoline-powered Saab first and that it could set for a launch next summer at the earliest. When interviewed by Automotive News Europe, NEVS said that the decision made last Wednesday was just a formality and won’t affect the business plans of the company.

A spokesman said that what’s important with this decision is that Saab owners get a guarantee to have access to Saab parts.

According further to the statement, the debt office has asked that the Swedish government move the shares to the state-ownership division of the ministry of finance. Since Saab became bankrupt, the bankruptcy estate has owned the parts company.

Topics: saab

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