Saab Unions Threaten Bankruptcy Action Over Unpaid Wages

Saab Unions Threaten Bankruptcy Action Over Unpaid Wages
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Union employees working for Saab are growing impatient after the automaker said it could not pay wages to its workers because it had not yet obtained necessary short-term funding. The unions have threatened legal action that could end in bankruptcy for the automaker. The IF Metall and Unionen groups will send a formal demand for payment… Continue Reading...

Saab Production Will Remain On Hold For Another Two Weeks

Saab Production Will Remain On Hold For Another Two Weeks
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Saab’s ongoing drama will remain at a standstill for another two weeks. Saab’s Trollhattan factory in Sweden, has not produced vehicles for most of April and May because of issues regarding paying suppliers. The factory bounced back in late May, but was quickly forced to stop production when part supplies ran out yet again. “There will be… Continue Reading...

Saab’s Production Problem Continues, With Yet Another Pause

Saab’s Production Problem Continues, With Yet Another Pause
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Saab halted production yesterday at its Trollhattan plant in Sweden after operations were disrupted by problems with supplier deliveries. Saab resumed production on May 27 after shutting down from April to May due to non existent operating capital. Suppliers became worried about receiving payment and stopped supplying the Swedish plant. Saab began a deal with Chinese car distributor Pang Da… Continue Reading...

Saab Resumes Production Tomorrow

Saab Resumes Production Tomorrow
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Saab will finally gain some stability, as the company will resume production tomorrow at its Trollhattan, Sweden, assembly plant. The facility has been idle for about six weeks. Saab’s owner, Dutch automaker Spyker, has been unable to secure the much-needed financing to pay off its suppliers, but the automaker says it has reached agreements that… Continue Reading...

Saab Signs Joint Venture With Chinese Car Distributor Pangda

Saab Signs Joint Venture With Chinese Car Distributor Pangda
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Saab appears to have yet again found a savior in China, announcing a joint venture with Pangda Automobile Trade Co., the largest distributor of vehicles in the world’s largest car market. The deal will see Pangda purchase 30 million Euros ($42.5 million) in Saab vehicles, with a second purchase of 15 million Euros  ($21 million)… Continue Reading...