Saab suppliers criticise slow sales process

COMPONENT SUPPLIERS TO Saab Automobile have criticised the rate at which the receivership process is taking place. The chief executive of the Scandinavian Automotive Suppliers (FKG), Fredrik Sidahl believes that the receivers have not paid enough interest in a renewed bid from China’s Zhejiang Youngman Lotus Automobile, which had positioned itself to take over Saab before it entered bankruptcy. The Chinese automaker had invited both suppliers and receivers to China to listen to its plans, but receivers had dismissed the company. Lars Holmqvist, the outgoing head of the European Association of Automotive Suppliers (CLEPA) has also criticised receivers for not taking the opinion of suppliers into account. In related news, the former parent company of Saab Automobile, Swedish Automobile, has announced that four executives on its boards have resigned. Swedish Automobile said that the decision had been taken as a result of a difference of opinion with chief executive officer (CEO) Victor Muller as to the funding alternatives available to it after the bankruptcy of Saab, and the future of the business and its remaining subsidiary Spyker.