Saab Stops Production Because of Customs Issues
Saab shut down their production on Wednesday due to an issue with a supplier and the Swedish customs, Reuters reported. The Swedish company expects to resume production today. "We had a problem with a supplier, but that has been solved now," Eric Geers, Saab spokesman was quoted as saying by the aforementioned source. "Now only the customs remain, and we will solve that," added the official.
Hans Ohlsson, a Swedish custom official, said the manufacturer lost a 30 day credit facility with the organization he represents due to Saab's filling for protection against creditors last Friday. The carmaker is now in debt for inventories and spare parts housed in two customs warehouses. Ohlsson said Saab has until March 4th to pay a "considerable" amount of money because of it.
Speculation about the auto manufacturer's inability to pay the debt were denied by Eric Geers. He said that "under a reconstruction, there just are some rules on how to do things." What those rules are or why they seem not to apply to Saab nobody knows. Even if the company is in greater danger than its compatriot Volvo, the latter is much closer to getting government aid.
Problems for Saab might keep on piling up, as GM's exit strategy appears to be "drop, run and don't look back." Joran Hagglund, Swedish state secretary, said Ford has done a much better job in reassuring the government they "will take full ownership responsibility and guarantee capital flows" than GM did.