Saab automobile to probable undergo intense reconstruction: Muller confirms


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Monday, 29 August 2011
Saab CEO Victor Muller is considering a reorganization of the company, despite earlier reports rejecting such as proposals.

According to news reports in Swedish media pointing to sources in on an interview with industry magazine, Automotive News, the CEO id quoted to have said that:
“We exclude nothing. We are focused on finding a solution and if the bailiff is approaching so we must protect ourselves.”


Other reports emanating from Swedish media say that negotiations are rife and that Saab Automobile is close to a financial deal that would ensure the company’s economic problems seeing some short term solution such that such that salaries and receivables from suppliers could be dealt with.

This will make to the company to survive until the agreements with the Chinese partners are approved by the Chinese authorities. This will usher in confidence in which other money in the long term will flow in.
According to the various Swedish news media, as of Friday afternoon, the worker union, IF Metal is reported to be requesting that Saab automobile be placed in bankruptcy protection. In Sweden, it is legal if workers call a company to bankruptcy.

Saab now has seven days to react to the noticfcation.
"We are waiting for these seven days to see if Saab pays our debt, "said Darko Davidovic one of those responsible to notifying the company. This is the third consecutive month that Saab did not pay wages on time.
By Team

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