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Saab still has good long term prospects, says chairman
publication date: Sep 1, 2011
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author/source: Robin Roberts
The
head of Saab believes the company can survive its present financial problems,
restart production and has good long term prospects.
Victor
R Muller, chairman of Saab Automobile, speaking after delayed publication of
the H1 results yesterday said it had been an incredibly tough quarter for the
company.
|  | He
said, Nothing is worse than having to delay salary payments to your loyal
employees and they deserve nothing less than my sincere apologies.
"Moreover, our ever tighter financial situation resulted in sustained
production stoppages, lost revenues and a significantly increased operating loss.
Our business plan is under review pending completion of funding negotiations
and to reflect ventures with our future partners Pang Da and Youngman."
"There are rays of light on the horizon as well. We have booked
good progress in negotiations with our suppliers on payment and delivery terms,
and we continue our effort to secure additional near-term funding to enable a
sustainable restart of production. Investor interest exists in Saab Automobile
based on a continued belief in the long-term prospects for the brand and the
company. | | |
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