SAAB News

Orio AB Is Not Going Into Liquidation!

Orio North America / Saab Parts

Several Swedish media misreported part of the information related to the spring rebalance of the state budget, and thus created unnecessary panic, especially among the owners of Saab cars. Namely, the state has redefined the part of the budget that refers to the share of state ownership in the company Orio AB as an authorized company for the production and distribution of original spare parts for Saab cars.

In the part of the press release, they used a few words and expressions that were interpreted by the media as “liquidation of the company”, which of course is not true. Below, you can read Orio AB’s statement regarding this misunderstanding.

Orio AB – Increased authorization creates greater flexibility for the future

Orio AB wants to clarify the information that has attracted attention in the Swedish media today and clarify the underlying facts that prompted the attention.

As part of optimizing the value development in the Orio Group, the state as owner has applied to the Swedish parliament for an extended authorization for developing its two business areas Orio Parts, with Saab Original spare parts distribution, and Orio Logistics, logistics services, as well as the Group’s logistics and distribution property in Nyköping. The purpose of the application is to expand the state’s action alternatives and create flexibility in how the value of the state’s ownership in Orio AB can be optimized.

– “In order to expand the state’s alternative course of action and thus the state’s opportunities to obtain as much value as possible for the business, the government has sought a broader mandate in Spring Budget Amendment 2021. In practice, this increases the opportunities for the board and, in the long run, the state to be able to obtain as high a value as possible for the business”, says Charlotte Hansson, Chairman of the Board of Orio AB.

In the Spring Budget Amendment 2021 to the Parliament on increased authorization for increased flexibility and optimized value creation of ownership in Orio AB, the wording “wind up through liquidation” is used. The formulation is unfortunate. It is included in the entirety of an extended authorization, despite the fact that the underlying reason for the extended authorization is the opposite, i.e. to enable an optimization of value development and increase the owner’s flexibility in the management of Orio AB.

The hope with this letter is to clarify the underlying facts, regarding the unfortunate dissemination of information that has taken place in the media.

The origin of the dissemination of information is thus the Spring Budget Amendment 2021, where the government applies for an extended authorization to create increased flexibility in its ownership of Orio AB to ensure an optimized value development of the Group.

Orio AB looks forward to a continued and future close and good collaboration with our existing customers, suppliers and partners and with potential new customers, suppliers and partners within the Orio Parts business areas with Saab Original spare parts, Orio Logistics and within the property development project Nyköping Logistics Park.

With confidence in continued good cooperation,

Gustaf Ljunggren
CEO
Orio AB