According to a statement, Solon is hoping to carry on operations and, as such, will not be closing down any of its production facilities at this time.
The companys 532 German employees were informed today of the news. They will receive insolvency money until the end of February, when the situation will be reviewed again. The remaining around 300 workers in Solons overseas operations will not be affected at this time.
Furthermore, the company is looking to inform its customers of the situation soon. At the same time, Solon will analyze its financial position and check for further options on how to take its business forward.
The company is said to owe over 400 million in debts.
Read, "Solon files for insolvency".
Read Karl-Heinz Remmers latest publisher's blog, which discusses the announcement.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.