Flöther will work alongside Solarions management to implement a restructuring plan. The opening of the self-administration procedure is an important step for the implementation of the planned measures.
Solarion currently remains fully operational, stated CEO, Karsten Otte. He added that a part of the reorganization will see the companys business realigned.
Solarion last made headlines when it fell out with its Taiwanese investor, Walsin Liwa. In January, the Leipzig-based company reportedly filed a lawsuit against the Asian group. It accused Walsin Liwa of violating a technology cooperation agreement, and demanded damages.
The two parties signed a 60 million investment cooperation agreement to produce Copper-Indium-Gallium-Diselenide (CIGS) thin film solar cells in October 2010.
At the time, it was said that Walsin Lihwa, via its wholly owned subsidiary Ally Energy Limited BVI, would invest 40 million in Solarion, thus acquiring a 49% stake in both the company and Solarion’s CIGS technology patent licensing.A further 20 million grant was awarded from the Development Bank of Saxony.