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Saab to Avoid Bankruptcy for the Moment, Factory Remains Closed

It looks like Saab is in clear waters for the moment, but as we are accustomed this might not last for long, as the manufacturer fights off another threat which may drive it into bankruptcy. The car manufacturer’s employees are the spark which threaten to deliver the deadly explosion. The 1,600 employees union in Sweden had been ready to go to court, and claimed that the company should go into bankruptcy, in their pursuit of paychecks that had been due last month.

The company had managed to find a solution to come up with the cash, but it needs money to get suppliers to start shipping parts to the Trollhatten facility. The manufacturer expected to reopen the facility last week, but parts suppliers and manufacturers have been boycotting the facility’s headquarters since late March, a fact which led the manufacturer to a shortage of Saab 9-3 and 9-5 models.

“We still need to reach an agreement on a delivery plan with suppliers,”
said spokeswoman Gunilla Gustavs, who says the maker likely won’t re-launch production until at least August 29th as related by thedetroitbureu.com.

The manufacturer has announced a series of deals over the past months which involved China, that the car manufacturer says will eventually add $100 million into Saab’s accounts. As Saab accustomed it audience, the deals with the car manufacturer Pangda and Zheijang Youngman Lotus Automobile Co. are caught in bureaucratic works. Also, a Sweedish report published by Dagens Industri claims another American investor is negotiating with Saab.
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