Meier Solar Solutions finds new investor 2 days after opening insolvency proceedings

Japanese solar machine builder, NPC Inc., has said it will take over the company: of particular interest are Meier’s Bocholt and Roßla production locations, which NPC has said it wants in order to further develop its market position.

Meier had to declare itself insolvent on July 2, after a lawsuit arose between the company and financial investor, Granville Baird, located in Hamburg, during the course of last year. It was reported that Granville Baird broke the terms of their agreement. The company took over Meier in the summer of 2008.

According to Bloomberg, NPC will spend €8.8 million (USD$11 million) in acquiring Meier.