IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Tuesday, August 2, 2011

Money to cover wages is on the way

Finally some good news!

According to Svenska Dagbadet, Swedish TV4 has reported that money is on the way to Saab. Money that will cover the delayed wages for the white-collar workers at Saab.

According to TV4's source, it is 99 percent certain that the money will be at Saab this week, but at the earliest on Thursday.

The money will come from two different sources, and Chinese Youngman, which is planning to buy 29.9 percent of Saab, is one of the sources.

It is assumed that the unpaid wages amount to SEK 35 million. The white-collar workers' Union are in the process of collecting the wage demands from each single member at Saab and these will be handed over to Saab on Wednesday or Thursday. Saab will then have seven days to respond to the demands. If wages aren't paid, the union can file for bankruptcy in Saab, which would happen at the end of August. But as reported above, the wages will hopefully be paid late this week or in the beginning of next week and thus avoid a bankruptcy filing.