Centrotherm sheds second subsidiary

06. September 2012 | Industry & Suppliers, Markets & Trends | By:  Becky Beetz

As part of its reorganization process, centrotherm photovoltaics AG has sold centrotherm SiTec GmbH’s subsidiary, Michael Glatt Maschinenbau GmbH to Germany’s Büechl Handels- und Beteiligungs-KG.

centrotherm HQ Germany

Centrotherm unveiled its plans to pv magazine in an exclusive interview.

The subsidiary, which specializes in vessels, apparatus and welding technology, will remain a supplier to centrotherm. CFO, Thomas Riegler added that no jobs were lost. "As a consequence, centrotherm has successfully taken a further step to rationalize its strategic portfolio, and to concentrate on its core competencies," said the company in a statement released.

At the start of July, centrotherm submitted an application to file for self-administrative insolvency. It then announced the closure of operations at its Vienna branch in Austria at the end of August.

In an exclusive interview, pv magazine spoke to Tobias Hoefer, the expert for reorganization on the board of Centrotherm AG and responsible for insolvency protection proceedings, and with CTO, Peter Fath, to discover the current state of affairs. Magazine subscribers can gain full access to the interview, while non-subscribers can read a shortened version.

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