| Contact Us | About UsAdvertisement | 
Weather Forecast


New more Chinese money to Saab automobile
Tuesday, 13 December 2011
It looks like the Chinese are determined to buy the Swedish ailing automaker, Saab automobile, despite all the negative press it is receiving.

Reports out last night indicated that Saab Automobile will get about Skr300 million from the China Company, Youngman and the threat of bankruptcy is said to be eliminated.

According to the Swedish business daily, Dagens Industry Saab's owner company Swedish Automobile was on Monday, prepared to put the car manufacturer in bankruptcy. But Saab may have been saved at the last minute.


Chinese Youngman according to media reports paid some $5 million, about Skr34 million, for Saab to cover Saab Automobile taxes and fees with the Swedish Tax authority.

On Wednesday another €20 million, more than Skr180 million, which is needed for the payment of salaries of employees was also noted to be on its way. Before the end of the year, Saab would have received Skr10 million.

"Information and documentation will be forwarded to Vänersborg court before 13 o'clock on Thursday. Thus, the re-organisation of the company continue, " reports Dagens Industri

The money from Youngman had already been paid on Friday, but wwas be stuck in the Chinese banking system and as such been delayed.

Saab CEO Victor Muller is increasingly lonely. On Monday technology manager Martin Larsson left the company board. This follows unease in the company’s top management echelon  as top management officials get impatient with the progress the company is making and are either leaving of about to leave the Saab.
By Scancomark.se Team

| Print Friendly and PDF| Write to the editor | Complaint about this article | Make a Comment |
Swedband to cut workers more than previously thought

What do you think about the above article? Please leave us a comment and reaction. Thank you.
  • Should be Empty: