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Saab automobile expect the Chinese money to fall in soon

Wednesday, 28 September 2011
Saab automobile has been quiet in the news for a while. This is because work is still underway to attempt to prop the company back to operation. It is reported that case is on the way.

The Skr640 million that Saab was expected from the Chinese company, Youngman, which was a pending additional funding is reported to be expected in weeks reports the Swedish business daily Dagens Industri.


This comes also at a time when there has been work underway to get the employees' unpaid wages paid.

When Saab appeal, the previously rejected application for voluntary reconstruction,  the company used the expectation that financing was coming from Youngman to use as a means to show that the company will get money.

In respect to that Skr 640 million was assessed to be in place within two weeks. When the time has now elapsed it is unclear whether the company has received money or not.
"We expect to get the money this week, "says Gunilla Gustav of Saab's press department.
She would not say whether the money is already in one of Saab's accounts or not, but foresee no problems with the payment.

"We just not want to comment on transactions at our bank accounts, "she says.
Employees have now received their August salaries by the government wage guarantee, which is a kind of loan for reconstruction. The government pays through the County Board the salaries, but Saab must then pay the money back.
Work is ongoing for September salary.
"I can not say anything specific in terms of date for when the money will get into employees' accounts, but it’s about to there, "says Ms Gustav
By Scancomark.se Team

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