Technology & Products

SolarWorld files for insolvency – again

Roughly seven months after its new beginning, the German solar PV manufacturer has again filed for insolvency at the District Court of Bonn – the second time in one year. SolarWorld blames the planned phasing out of anti-dumping measures by the EU Commission against Chinese competition and the further drop in prices.
Sandra Enkhardt
By
Sandra Enkhardt
SolarWorld facility in Arnstadt, Germany. | SolarWorld

German solar manufacturer SolarWorld Industries GmbH has today filed a request to open insolvency proceedings at the district court of Bonn.

“With this, the company is reacting, among other things, on further decreased market prices and European Commission’s intention to terminate measures against dumped solar imports from China,” the German company said.

The district court appointed Christoph Niering as provisional insolvency administrator. Disposal of assets is only effective with the approval of the provisional administrator, the notice states.

In August 2017, SolarWorld Industries acquired the German production and sales activities of the insolvent SolarWorld AG, and subsidiaries, which filed for insolvency last May. U.S.-based subsidiary SolarWorld Americas Inc. was not included in the deal, is a separate legal entity from SolarWorld Industries GmbH, and continues operations in the state of Oregon.

SolarWorld Industries’ founder, Frank Asbeck has a 51% stake in the company, while Qatar Solar Technologies (QSTec) holds a 49% stake.

 

Update: This article was updated at 21:45 CET on March 28 to clarify that SolarWorld Americas is a separate legal entity.

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Comments

Karlos
Apr 03, 2018

Just let it die and move on.

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Hans Spek
Mar 29, 2018

We would be intested to talk.

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[…] PV Magazin: German solar manufacturer, SolarWorld Industries GmbH has today filed a request to open insolvency proceedings at the district court of Bonn. […]

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PVSun
Mar 28, 2018

New big investor group is coming…. everybody knows 6 months ago.

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SolarEU
Mar 28, 2018

We will see if finally they solve this problem or a new investor goes inside.

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