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Supplier troubles halt Saab production

Saab halted production for a second day on Wednesday following a dispute with its suppliers who have complained that they have not been paid, according to daily Dagens Industri.

Netherlands-based Spyker, which own Saab, moved to reassure investors amid concerns over its finances and said that production would resume on Thursday after they settled a dispute with transport form Schenker.

Saab halted production on Wednesday because of issues with "a few" suppliers to its plant. A spokesman told the Financial Times that the production stop was "nothing special", and Saab said it had enough money to meet its immediate liquidity needs. It said it expected to resume production on Thursday as normal.

In a statement Spyker said "Saab Automobile has sufficient means to meet its immediate liquidity needs from existing and available sources."

They added "Saab Automobile continues to work on longer-term solutions to further strengthen its financial position and improve its capital structure."

A Russian entrepreneur, Vladimir Antonov, has applied to take over Saab Automobile and is waiting for approval from the Swedish government, which needs to approve any change in the ownership structure following its guarantee over a $400m European Investment Bank loan, which paved the way for Saab's sale to Spyker last year.