Saab Automobile is now paying the salaries of its workers


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Wednesday, 29 June 2011
Saab Automobile said on Wednesday afternoon that they have taken a loan of EUR 25 million from the fund Gemini Investment Fund. This money is said to being used to pay its workers who could not be paid at the end of the month.

Saab has previously received loans and conducted business with the Gemini Fund. It is yet another contribution to solve the Saab's extremely strained liquidity problem. With the new addition in which the salaries of the employees are paid on Wednesday.


“Salaries are now going out to all employees’ account,” said Eric Geers, communication Director at Saab, on Wednesday afternoon.

“This addition is super important. Now we have in three days in a row announced initiatives that strengthen our short-term liquidity. Now we can also start discussions with our suppliers. We want to ensure a better flow of the components before we drive up production again.”

Whether the amount of money they have secures could be enough to resume secure production.
 He said that “It goes without saying that this is a hugely valuable addition but we have still other initiatives that I can not talk about now,” says Geer.
By team

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