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Insolvency proceedings against Signet Solar open

The Saxonian company is already in talks with potential investors. For the time being, production at the Signet Solar facility keeps running. Dismissals are not in the plans at the moment.

Signet Solar carries on production Image: Signet Solar Inc.

The insolvency proceedings of Signet Solar were opened for hearing on Tuesday in the Chemnitz court (Amtsgericht). "The opening of the insolvency proceedings will not change things for the customers, suppliers and employees," stated the liquidator Christoph Junker. Employee wages in the future will be administered directly by the insolvency administrator and not the insolvency cash from the employment agency. Junker had already been appointed by the court as the provisional insolvency administrator.

Intensive negotiations with more than 20 potential investors are underway according to the Dresdner attorney. However, the entire negotiations over the enterprises involved and the available offers are held behind closed doors. None of the investors with a serious interest have withdrawn themselves from the process so far according to Junker's updates of the proceedings. He remains optimistic that a conclusion can be reached within the next four weeks. "Our goal is to set up Signet in such a way that the company is positioned strategically for success on a long term basis and the jobs on location remain," said Junker. The importance is placed on the 153 jobs on location in Saxon-Mochau.

Production maintains full capacity to the end of October and the employee hours have been extended to meet current module orders. Among them, a large scale photovoltaic project in Slovakia with a capacity higher than one megawatt, concluded Junker.