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-Saab receives first payment from Zhejiang Youngman Lotus Automobile.

Auto Business News-December 14, 2011--Saab receives first payment from Zhejiang Youngman Lotus Automobile(C)1994-2011 ENPublishing - http://www.enpublishing.co.uk

Auto Business News - 14 December 2011

Saab, a Sweden-based automaker, has received its first payment from China-based Zhejiang Youngman Lotus Automobile.

Saab spokesman, Eric Geers, stated that Saab has paid its taxes and is working to pay salaries and to receive funding for salaries and to maintain the firm's reorganisation.

Geers said, 'I can confirm a first payment from Youngman. Funding has come into Saab accounts.'

[Editorial queries for this story should be sent to abn@enpublishing.co.uk]

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Publication:Auto Business News (ABN)
Date:Dec 14, 2011
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