Workers fed up

Unions at Saab, which is unable to pay wages to its workers, threatened on Thursday to start a legal process that could end in bankruptcy for the iconic brand.

The IF Metall and Unionen groups said they would send a formal demand for payment on Monday if their members had not received their wages.

"Then the company has seven days to react," IF Metall representative Veli-Pekka Saikkala told Reuters. "After that there are two alternatives. Either we see that the situation can be solved, or we demand that Saab is put into bankruptcy."

Earlier on Thursday, Saab said it could not pay wages to its employees because it had not yet obtained necessary short-term funding.

Saab's owner, Swedish Automobile NV, formerly known as Spyker Cars NV, and Saab are still in discussions with various parties to obtain short-term funding, including the potential proceeds from a sale and lease-back of Saab's real estate, it said.

Saab spokeswoman Gunilla Gustavs said it is not possible to say when salaries will be paid. "That depends on when and if we can secure short-term funding, for example through the real estate deal," Gustavs said. "This is really bad news and we are working intensely to do something about it. There are no guarantees but we are not giving up."

Swedish Automobile this month agreed on a rescue package for Saab from two Chinese car companies, Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. that it says would solve longer-term financing problems if approved by authorities in China and Europe.

Downward spiral

Analyst Martin Crum at Dutch broker AEK said a bankruptcy was still possible for Saab.

"The company is in a downward spiral. The longer it takes, the tougher it gets. The longer it takes, the more potential buyers will leave," he said.

Saab's Trollhattan factory in southern Sweden has been idle for at least two more weeks while the company talks with its suppliers.

Les syndicats de Saab, qui est incapable de payer les salaires de ses travailleurs, ont menacé de lancer un processus juridique qui pourrait aboutir à la faillite de la marque emblématique.

Les groupes IF Metall et Unionen disent qu'ils allaient envoyer une demande officielle de paiement,  si Lundi leurs membres n'avaient pas reçu leur salaire.

"Ensuite, l'entreprise a sept jours pour réagir",d'après le répresentant d' IF Metall  Veli-Pekka Saikkala . «Après cela il ya deux alternatives. Soit nous voyons que la situation peut être résolue , ou nous exigeons que Saab soit mis en faillite."

La porte-parole de Saab Gunilla Gustavs dit qu'il n'est pas possible de dire quand les salaires seront payés. «Cela dépend de quand et si nous pouvons sécuriser le financement à court terme, par exemple grâce à l'opération immobilière», a déclaré Gustav. «C'est vraiment de mauvaises nouvelles et nous travaillons intensément à faire quelque chose. Il n'existe aucune garantie, mais nous n'abandonnons pas.".


L'Analyste Martin Crum au courtier hollandais AEK a déclaré une faillite était  possible pour Saab.
«L'entreprise est dans une spirale descendante. Plus ce sera long , plus ce sera difficile.Plus ce sera long , plus les investisseurs potentiels s'en iront ", at-il dit.
 
Source Automotives News via Saabworld.net