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No resolution for Saab's cash crisis

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No resolution for Saab's cash crisis
08:48 CEST+02:00
Despite rising hopes, Friday saw no resolution to the money problems that have dogged Saab this week. The government called a crisis meeting on Friday but talks ended without a successful conclusion according to spokeswoman Marja Lång.

“We have done what we can and we are making preparations for the weekend. I thought we had a solution, but unfortunately that isn't the case,” Lång told Swedish business daily Dagens Industri (DI).

She refused to elaborate any further on what the actual plans were that did not did not work out on Friday, but added that more work will continue over the weekend in a bid to find a solution.

The factory has been at a standstill since Wednesday because the car maker has not been able to pay suppliers. Speculation over the week suggested that the government was prepared to relax some of the guarantees that had been insisted upon for the 2 billion kronor ($321 million) loan which has been granted to Saab, although at this stage there is no confirmation according to DI.

Despite the setback, hopes remain that production at the Trollhätten factory will be restarted in the next few days.

“We think that it will be next week” said Saab spokeswoman Gunilla Gustavs.

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