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Old 30th March 2011
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Post Saab production temporarily halted by unpaid suppliers

Filed under: Plants/Manufacturing, Saab, Earnings/Financials, Spyker

[IMG]file:///Users/noahjoseph/Library/Caches/TemporaryItems/moz-screenshot.png[/IMG]Yesterday, Saab was met with a slight production hiccup. The Swedish automaker's parent company Spyker Cars confirmed that production briefly ground to a halt at its Trolhättan assembly plant when a number of suppliers stopped the flow of parts due to non-payment of bills.

Saab says it "expects to resolve these issues in the short term," and workers resumed production this morning. Any cessation of production invariably costs an automaker big bucks, and even though the stoppage was very short in duration, its understandable that other suppliers and analysts might have the jitters about whether Saab's financial position is stable.

Given that Spyker recently sold its own automotive unit to CPP, Saab should have enough cash on hand to pay the bills, although the automaker itself announced a nearly $200 million loss from last year. Follow the jump for the official announcement.

[Source: Spyker/Saab]Continue reading Saab production temporarily halted by unpaid suppliers

Saab production temporarily halted by unpaid suppliers originally appeared on Autoblog on Wed, 30 Mar 2011 09:07:00 EST. Please see our terms for use of feeds.

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Old 30th March 2011
Alfisti Alfisti is offline
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Yeah this isn't good.
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