Amid production halt, Saab seeks approval for changes in state guarantees

Kris Alingod – AHN News Contributor

Trollhattan, Sweden (AHN) – Beleaguered automaker Saab has requested changes to guarantees from Swedish authorities, the latest effort by the beleaguered automaker to resolve financial issues.

Saab has asked Sweden’s National Debt Office to approve an agreement reducing state credit guarantees for loans from the European Investment Bank, according to Swedish media. The company, which Dutch automaker Spyker Cars bought from General Motors last year, is seeking a foreign investor to help it with an infusion of cash.

Swedish Finance Minister Anders Borg told SVT on Thursday that Saab is seeking to resolve its liquidity issues with difficult solutions. He added that the company had to show the government taxpayers would not in end bear the brunt of the problem.

Production at Saab’s facilty in Trollhattan remains suspended. Suppliers stopped delivering parts early thie month, forcing the company to halt production. A few days of resumption ended in another production stoppage despite assurances from the Victor Muller, chief executive of Spyker and chairman of Saab, that the situaiton was a “small glitch.”

Russian banker Vladimir Antonov, a former Spyker chairman who acquired the automaker’s luxury brand unit in February, is said to have asked Swedish authorities approval to buy Saab real eastate in Trollhattan.

Article © AHN – All Rights Reserved

View full post on All Stories

Both comments and pings are currently closed.

Leave a Reply

Powered by WordPress | Designed by: video games | Thanks to Wachdienst, Trucks and SUV