STOCKHOLM (AP) -- The chairman of Spyker Cars NV has dismissed concerns about the financial health of its Swedish brand, Saab Automobile, saying it "is not on the verge of collapse."
Saab was rocked last week by production stoppages and suppliers complaining of unpaid bills.
Spyker chairman Victor Muller called the problems "a small glitch" and told reporters Monday he remains "upbeat about the prospects of the company."
Spyker bought the struggling brand from General Motors Co. last year after securing a €400 million loan from the European Investment Bank.
Saab lost €218 million ($308 million) on sales of €819 million in 2010. Muller has said he expects the company to turn a profit in 2012.
Saab was rocked last week by production stoppages and suppliers complaining of unpaid bills.
Spyker chairman Victor Muller called the problems "a small glitch" and told reporters Monday he remains "upbeat about the prospects of the company."
Spyker bought the struggling brand from General Motors Co. last year after securing a €400 million loan from the European Investment Bank.
Saab lost €218 million ($308 million) on sales of €819 million in 2010. Muller has said he expects the company to turn a profit in 2012.
