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Saab Anxiously Awaiting Rescue Plan Approval

Muller expects answer next week – but delay could “unravel” things for Swedish maker.

by on Apr.22, 2011

Saab executives, including Chairman Victor Muller (c), and design chief Jason Castriota (r), at the NY Auto Show.

Nearly three weeks after a supplier boycott forced Saab to halt operations at its headquarters assembly plant, the maker is anxiously waiting for formal approval of its rescue plan – and fretting that a long delay could cause its operations to “unravel.”

The shutdown has cost the maker significant lost production even as it aims to build up global inventory.  But Saab Chairman Victor Muller told in an exclusive interview that he believes the Swedish maker could recover those losses in a matter of months – if and when it gets the go-ahead for a plan that would pump millions of Euros into its cash coffers.

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“Well, I’m still hoping” to get an answer within the next few days, said Muller, admitting, “I don’t know” why a proposed rescue plan has not gotten the necessary approval from the European Investment Bank.