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Saab investors line up new meeting - reports

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Saab investors line up new meeting - reports
08:56 CEST+02:00
Employees at beleaguered car maker Saab are cautiously optimistic after receiving their salaries for July this week and the news that further talks with Pang Da could take place over the weekend.

The Chinese firm raised the cash with a new emission of some five million shares, according to Expressen, but in the longer term, unions are hoping to see more concrete survival plans.

Although the company's long term viability remains under scrutiny the news that the salaries could be paid last month at least was a relief. “No one wants this to happen again,” said press spokesperson Gunilla Gustavs.

“We want to see a plan of action for Saab Automobile can survive in the short term,” said union General Counsel Martin Wästfelt in a statement.

With many workers due to return after the summer break next week, the rumours that Pang Da executives are on their way to Sweden for a further meeting gives more cause for optimism. One report suggests that CEO Pang Qinghua is in Europe already, and is planning to go to Trollhättan for a meeting next week, while others say that meeting could take place as early as this weekend.

Meanwhile at the plant, production levels are still low as the company gears up for the order from Pang Da of more than 1900 cars from Saab worth over SEK 400 million.

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