After Saab shut assembly lines down for a few hours on March 29, industry analysts and observers voiced their concern about the state of the Swedish automaker’s finances and its future. Today, Spyker Cars N.V. confirmed that some suppliers had stopped delivering parts while discussions are currently underway concerning payment and supply terms and conditions.
Spyker president and CEO Victor Muller says yesterday’s interruption was due to a transportation company looking for better payment.
Unfortunately, it’s not the only one.
Several sources say that other companies, including ones crucial to Saab, have expressed their displeasure.
Internet site Resume has also revealed that Low Brindfors, Saab’s advertising agency, has decided not to develop any new campaigns, as it hasn’t been paid since December 2010. The information hasn’t been corroborated by either party.
Despite all this, Saab says it “has sufficient means to meet its immediate liquidity needs from existing and available sources” and “continues to work on longer-term solutions to further strengthen its financial position and improve its capital structure.”
The solution to this financial mess may well be rich Russian businessman Vladimir Antonov of Spyker’s sportscar division. Antonov confirmed his involvement via Twitter, saying he “officially submitted the forms to the Swedish National Dept Office for change of control approval.” He will also meet with the European Investment Bank, which guaranteed a 400 million euro loan to Saab.
Antonov and Spyker have been linked in the past, the former having tried to participate in the purchase of Saab when GM let the automaker go in 2010. However, he was forced out of the deal because of alleged links to organized crime, which investigations later refuted. Spyker also sold its sporstcar division to Antonov in February 2011.
Sources: Automotive News, Automotive News
Spyker president and CEO Victor Muller says yesterday’s interruption was due to a transportation company looking for better payment.
Unfortunately, it’s not the only one.
Several sources say that other companies, including ones crucial to Saab, have expressed their displeasure.
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| Photo: Saab |
Internet site Resume has also revealed that Low Brindfors, Saab’s advertising agency, has decided not to develop any new campaigns, as it hasn’t been paid since December 2010. The information hasn’t been corroborated by either party.
Despite all this, Saab says it “has sufficient means to meet its immediate liquidity needs from existing and available sources” and “continues to work on longer-term solutions to further strengthen its financial position and improve its capital structure.”
The solution to this financial mess may well be rich Russian businessman Vladimir Antonov of Spyker’s sportscar division. Antonov confirmed his involvement via Twitter, saying he “officially submitted the forms to the Swedish National Dept Office for change of control approval.” He will also meet with the European Investment Bank, which guaranteed a 400 million euro loan to Saab.
Antonov and Spyker have been linked in the past, the former having tried to participate in the purchase of Saab when GM let the automaker go in 2010. However, he was forced out of the deal because of alleged links to organized crime, which investigations later refuted. Spyker also sold its sporstcar division to Antonov in February 2011.
Sources: Automotive News, Automotive News