- THE MAGAZINE
- WEB EXCLUSIVES
But the chief executive of a supplier group said the gambit does little to stabilize the company’s finances and late last week, the head of CLEPA, Europe’s supplier trade association, challenged Saab to declare bankruptcy in order to secure for its employees the best Swedish unemployment package. Saab, owned by Netherlands-based Swedish Automobile NV, formerly Spyker Cars NV, is said to be continuing with attempts to not only secure a new drawback from a previously-arranged loan facility from the European Investment Bank but also to close deals with Chinese auto distributor Pang Da Automobile Trade Co. Ltd. and automaker Zhejiang Youngman Lotus that would allow the two companies to invest in and collectively own about 52 percent of Saab. Russian investor Vladimir Antonov reputedly also remains keen to purchase a portion of the company.