Saab China Process reported to be rolling on as planned but money is not coming in as plannedWednesday, 05 October 2011
Saab Automobile’s china strategy with Youngman and Pang Da is reported to be rolling on as planned. After going through a number of Chinese government processes right on time, it is reported that Youngman and Pang Da will get the green light to enter as a partner with Saab.
According to Anna Petre, director of community relations at Saab, everything is going on according to schedule.
“We are experiencing no problems with getting materials from Chinese companies,” she says.
The crucial decision by Chinese authorities is expected next week, since the Swedish Debt Office, the Swedish government and the European Investment Bank had made decisions.
Under the deal with Youngman, money could be available around September 25.
AdvertisementIn a related development, the money for the Saab reconstruction is still being delayed. Saab has not yet received the EUR70 million, approximately Skr 640 million, to finance operations during the reorganization as would have been expected.
According to Saab information manager, Eric Geers ”The process continues. It has taken more time than we expected.”
"But we know that money is coming, though I can not say when, "he continues.
China is closed for weeks because of National Day celebrations and this will affect the quest for time.
The money is expected to come to Saab via a design with Youngman and a German bank.
By Scancomark.se Team
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