Company Executive Claims Saab Plant Shutdown to End Next Week
Following several weeks of closures at its manufacturing facility in Trollhaettan, Sweden, Saab now aims to resume production next week say company officials.
Saab's go at independence has been rough to say the least. CEO Jan Ake Jonsson announced his resignation last month following a $300 million loss the company's first year solo. The automaker has been forced to idle its plant due to a shortage of parts as a result of unpaid bills, but now the automaker claims to have cleared things up and says it aims to resume output next week.
Saab has apparently been working feverishly to free up collateral, which will in turn back loans from the European Investment Bank. The EIB still hasn't given its final stamp of approval on the loan, but Saab believes it is close to doing so. The automaker is also expecting new shipments from suppliers later this week that will help bring its operation back on line.
Things at Saab lately have been shaky to say the least. Do you think it can recover and return to profitability, or is it a lost cause?