AM Online

Saab production halts as suppliers go unpaid

Spyker says it has halted Saab production due to a short-term liquidity crunch which it must resolve to pay suppliers.

At full capacity, Saab can make about 200 cars a day, but the factory, which employs about 1,200 production workers, has been closed since last week after earlier rolling stoppages.

Reuters reports the company as saying once it has obtained funding to pay outstanding debts with its suppliers, Saab Automobile expects it will be able to resume normal production within a week.

Spyker said on Monday it was trying to sell and leaseback the Swedish carmaker's real estate to raise cash to pay suppliers and is also hoping for an investment from Russian businessman Vladimir Antonov.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.