Arab Today, arab today saab halts production until further notice
Last Updated : GMT 21:20:40
Arab Today, arab today
Arab Today, arab today

Saab halts production until further notice

Arab Today, arab today

Arab Today, arab today Saab halts production until further notice

Stockholm - AFP

Swedish carmaker Saab said Wednesday it was suspending production until further notice pending the resolution of a conflict with suppliers over unpaid bills that has rendered supply unstable. "There is a production stop. We have decided that we don't want to have these stop-and-gos any more. It's not good for the whole production process," Saab spokesman Eric Geers told AFP. "We will resume production when we have come to an agreement that we expect soon," he added. Geers would not say how many suppliers had halted deliveries to Saab, but said the rate of deliveries was too unstable to ensure permanent production at the plant, with the company not having much stock of its own. The current production stop marks the first time since Saab was rescued at the last minute by Dutch company Spyker cars in January 2010 that it was forced to halt production without a set date for starting it up again. Last week, the company had already halted production three times as some suppliers halted deliveries over unpaid bills. On Monday, Saab and Spyker sought to reassure investors of the brand's financial health, with Spyker head Victor Muller describing current problems as "a small glitch." Saab chief executive Jan-Aake Jonsson, who unexpectedly announced last month he would be stepping down in May, said he saw "the situation improving shortly" at Saab. Geers said Wednesday Saab expected to secure additional funding soon. "But it's too early to say when we will come out with some news," he told AFP. Russian businessman Vladimir Antonov put in a request to Sweden's National Debt Office last week to invest in the carmaker. General Motors, a former Spyker shareholder, blocked Antonov from taking a stake in the company when they owned Saab. The National Debt Office, which has a say in ownership changes because it guaranteed a European Investment Bank (EIB) loan to Saab, said it would give its answer to Antonov in a few weeks. Antonov has said he was ready to invest 50 million euros ($70 million) in Saab. He wants to take a 30-percent stake in the company. Iconic Swedish carmaker Saab did not turn a profit in the 20 years it spent under General Motors, where its production of around 100,000 to 130,000 cars annually was negligible for the US auto giant. When Spyker bought the brand for 400 million dollars last year, Muller set out to sell 50,000 cars in 2010 but only sold 32,000.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saab halts production until further notice Arab Today, arab today saab halts production until further notice

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday