Saab says that some suppliers had agreed to restart deliveries

Article by Christian A., on May 19, 2011

Some of the suppliers for Sweden-based Saab have agreed to resume deliveries after a month’s break due to the company’s unpaid bills, the automaker disclosed on Thursday.

Moreover, Saab is also pushing discussions with the rest of its suppliers. In detail, Gunnar Brunius, the company’s production director and purchasing manager, revealed that the company has started discussions with around 800 suppliers regarding the matter.

He added that the company has entered into an agreement with some of these suppliers such as Plastal, the company’s supplier of plastic components.

He also informed Reuters that the company is aiming to resume production by the end of next week. The vehicle manufacturer, which was purchased by Dutch company Spyker Cars NV last year, was able to close a preliminary funding agreement with China-based Pangda Automobile Trade Co. as a last-minute reprieve.

Under this deal, the Swedish automaker will receive 30 million euros ($43 million) instantly for cars that will go on sale in China. Pangda will also purchase, depending on the approval from Chinese authorities, 24 percent equity stake in Spyker for 65 million euros at 4.19 euros per share.

In addition, Pangda disclosed on Thursday that it intends to set up a manufacturing venture with Spyker and a local partner this 2011, and commence production of vehicles in two years. Should this portion of the agreement fall through, Saab will have to repay the initial 30 million euros.

Topics: saab

If you liked the article, share on:

Comments

Recommended

The 2018 Dodge Challenger SRT Hellcat as we know, is the Demon's less powerful sibling, and there’s nothing wrong with that. But have you ever imagined how it would look...
by - June 28, 2017
Sorry Uber, but Handsome Cabs taxi company has something no one else can offer - a Lamborghini Huracan that can take their clients from Point A to Point B. This...
by - June 28, 2017
BMW saw a potential oil leak on the new M760Li, prompting them to recall the said vehicle last April. Today, a little over two months after issuing the first recall,...
by - June 28, 2017
Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries