Centrotherm to close Austrian operations

The insolvent centrotherm has said that in a bid to concentrate on its core businesses, centrotherm power solutions GmbH, which focuses on engineering services and large-scale project management, will be wound down. A total of 38 staff have been affected by the decision.

In a statement released, centrotherm explained, "Due to the decision taken by the parent company’s Management Board to no longer procure services, and also to no longer render payments, there is no longer any positive forecast for the continued existence of centrotherm power solutions GmbH. For this reason, various options for action are being reviewed relating to the winding-down of the company according to Austrian law."

Read pv magazine’s exclusive interview with centrotherm’s expert for reorganization, Tobias Hoefer, and CTO, Peter Fath.