Gasgoo.com (Shanghai June 30) - Pang Qinghua, head of Pangda Automobile Trade Corporation, has confirmed that they will sign an official agreement with Saab as soon as possible, Shanghai Securities News reported today. Saab has signed an agreement with Swedish real estate investment company Hemfosa Fastigheter AB earlier this week to gain additional funds.
Hemfosa Fastigheter will be putting 255 million Swedish kronor ($40.28m) into the ailing automobile manufacturer, which has been on life support for the past few months. Sirens had recently be raised at Saab when it was unable to pay the salaries for over 3,700 of its workers on time.
With the cash injection, Saab's parent company Spyker has announced that the manufacturer will be able to fulfill its obligations. Pangda has already agreed to invest 45 million euros ($64.76m) in Saab.
