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Saab Secures Short Term Financing - Aims to restart production

Drew Dowdell
in SAAB / NEVS

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SAAB Secures Short Term Financing

Aims to restart production this week

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Drew Dowdell - Chief Editor - CheersandGears.com

05/02/2011

Earlier, we posted that Saab's future looks bleak as production was shut down due to cash flow and supplier problems. Today, Saab announced that they have secured a 6 month, 30€ million loan from Gemini Investment Fund and an additional 29.1€ million from the European Investment Bank.

With these funds, Saab hopes to re-start production later this week pending delivery agreements with suppliers. Saab continues to seek long term financing for continued operations.

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    Good luck, Saab.

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