Saab logo Saab has announced "that there is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time to effect such salary payments."

This news should come as no surprise to anyone paying attention to the Swedish automaker's dire situation over the last several months, but this concluding statement may raise a few eyebrows: "There can however be no assurance that the necessary funding will be obtained or the funds collected." Sure, deep down we all know that, but it sounds pretty ominous coming from the company's official PR department, no? Read the brief statement straight from the horse's mouth after the break.
Show full PR text
SAAB AUTOMOBILE INFORMS EMPLOYEES ON SALARY PAYMENTS

Zeewolde, The Netherlands, 23 August 2011 - Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that there is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time to effect such salary payments.

Saab Automobile is taking all necessary actions to collect these funds in time and continues discussions with various parties to obtain additional short-term funding so that the payments can be made, as well as resume sustainable production. There can however be no assurance that the necessary funding will be obtained or the funds collected.