Turkish investor acquires Solarion


OC3 AG, which belongs to the Turkish NUH Group has bought out the flailing CIGS thin film PV manufacturer, having submitted a convincing concept for how to take over the company, and pursue long term goals. As such, the Leipzig base will be retained and the 12 remaining employees kept on. "The sale offers Solarion a good perspective again," said Lucas Flöther from law firm Flöther & Wissing.

The business transfer was retroactively effected on August 1. Solarion’s creditors have already agreed to the binding offer, which was made by OC3 after long negotiations, added Flöther. The sale price was not disclosed.

By the time of the company’s December 2014 bankruptcy filing, Solarion’s business operations had largely come to a standstill. And, according to Flöther, the PV manufacturer hasn’t recorded any revenues. As such, as liquidator, he undertook the search for new investors, meaning Solarion has successfully survived its second foray into insolvency.

In March 2013, Solarion applied for self-administrative insolvency with the District Court in Germany’s Leipzig. At the time, Flöther was appointed trustee to oversee the restructuring, which saw the company part ways from former shareholder, Ally Energy.

Translated and edited by Becky Beetz

Popular content

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: editors@pv-magazine.com.


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

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.