German PV group Solar-Fabrik AG will take over a manufacturing facility formerly owned by Centrosolar’s insolvent Sonnenstromfabrik GmbH in the German city of Wismar on August 1.
Solar-Fabrik will continue module production at the Fab 2 site using the plant’s existing equipment. At the same time, the fab’s 143 employees of the insolvent company will receive new employment.
A Solar-Fabrik subsidiary managed by Solar-Fabrik VP Finance Joern Wirth will oversee operations at the Wismar fab. Ralf Hennigs, Sonnenstromfabrik’s former managing director, will join Wirth at the company’s helm on August 1.
The Solar-Fabrik subsidiary has signed rent and lease agreements with the investors who acquired all of Sonnenstromfabrik’s tangible assets, allowing the continuation of production at the Fab 2 premises. The company has also signed a purchase agreement with Sonnenstromfabrik insolvency administrator Gideon Boehm to take over the company’s 143 employees as well as the then current inventory on the transition date of August 1 as part of an asset deal.
The agreement allows a smooth transition of the factory from insolvency back to normal operation, including processing of orders at hand. With an initial investment of approximately 300,000 plus the current inventory on August 1, Solar-Fabrik will increase its production capacityto more than 300 MW a year through its combined operations in Freiburg and Weimar. The deal also gives Solar-Fabrik the right to manufacture all of Centrosolar’s original module types.