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Published: Friday, 7/8/2011

Saab’s shutdown could last until August

BLADE STAFF AND NEWS SERVICES

STOCKHOLM — Struggling Swedish automaker Saab said a production stop lasting for most of the past three months would stretch into August, but it was close to a deal with suppliers who have held back parts until it pays its debts.

In recent days, Saab, owned by Netherlands-based Swedish Automobile, has secured 61 million euros in short-term funding, but has yet to get parts flowing again so it can resume building cars.

“Saab Automobile continues its discussions with its suppliers on materials supply and commercial terms and is close to reaching agreements,” Swedish Automobile said in a statement Thursday.



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