Saab receives Chinese saviour on Thursday 


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Thursday, 26 May 2011
The head of the Chinese company, Pang Da, considered by many here as Saab Automobile’s saviour, visits Sweden and Saab’s Trollhattan on Thursday. The boss, Pang Qinghua today he met, Maud Olofsson, minister of Industries and the Swedish Debt Office. He is expected in Trollhattan on Friday.

 Pang Das powerful CEO, Pang Qinghua is interested in seeing what he has so far invested €30 million and is prepared to inject additional €65 million in order to become a part owner of the company. In particular their shareholding is being discussed with the Swedish government and the Debt Office at the moment.


On Thursday, the Chinese company official was accompanied by the Saab’s President and now CEO Victor Muller. During Thursday the whole party would eat dinner together in Trollh�ttan with Saab’s management.

Thanks to Pang Das the car maker looks to be back to car production after the factory has remain silent for seven weeks. Pang Das leadership was greeted with Chinese flags hoisted at the Saab factory as well as when Hawtai visited a few weeks ago.

Today, Saab has €60 million (about Skr540 million) in cash, in which €30million come from the Gemini Fund €30 from the first payment of Pang Da a front payment of 1300 Saab Cars to be sold in China.

With the money it is expected that Saab could pay and persuade suppliers to start supplying again. Negotiations are continuing but there are hundreds of companies Saab will get along with, which take some time.

“We have enough components placed to start production on Friday. But there will be no ordinary day, things are expected to be running and everything will come in its place in various orders, "said Eric Geer, spokeswoman for Saab in Trollh�ttan.

During the seven weeks of stoppage, Saab has lost production of about 8,000 cars counted on the basis of producing 224 cars per day – the rate designed before the problems in the company started.
By Team

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