Arab Today, arab today sweden\s saab pays overdue salaries
Last Updated : GMT 21:25:08
Arab Today, arab today
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Sweden\'s Saab pays overdue salaries

Arab Today, arab today

Arab Today, arab today Sweden\'s Saab pays overdue salaries

Stockholm - AFP

More than 1,600 white-collar employees of Saab, the troubled Swedish carmaker, have been paid overdue salaries, a trade union official said on Friday. Last week, Saab warned that some of its 3,700-strong workforce would not be paid on time, blaming the lack of expected funds from investors.Swedish Automobile, Saab\'s parent company, has been seeking fresh cash since March to secure the carmaker\'s future through real estate deals and by entering into an agreement with Chinese distributors.The iconic Swedish brand was saved at the last minute in early 2010 when it was bought by small Dutch firm Spyker -- now known as Swedish Automobile -- from US giant GM. The new owner had big ambitions for Saab but the carmaker has since then lurched from one cash crisis to another.

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