After opening insolvency proceedings, again, Germany-based SolarWorld Industries GmbH resumed production at its two sites in Freiberg and Arnstadt. This week, the first deliveries of solar modules to customers in Germany, France, Kuwait, Japan and Sri Lanka will be made, the company announced in a press release.
The largest single order currently being processed by SolarWorld comes from Kuwait. 6,000 of the 14,000 ordered solar modules are now on their way to the customer, the module maker said.
Around seven months after the positive resolution of its first insolvency, SolarWorld had to initiate proceedings for a second time, shortly before Easter, at the Bonn district court. “It was important for us to restart production as soon as possible,” explained the company’s provisional insolvency administrator, Christoph Niering.
“It was important for us to restart production as quickly as possible and to provide SolarWorld Industries’ customers with high-quality products from SolarWorld’s production facilities in Arnstadt and Freiberg,” Niering added, while praising the loyalty of many customers who continued to rely on SolarWorld products.
In addition to the restart of production and the processing of existing orders, the company is now searching for investors. It will start talks with potential investors in the coming weeks.
In May 2016, SolarWorld AG and its German subsidiaries had to file for insolvency for the first time. In August 2017, SolarWorld Industries took over the German production and sales activities from the insolvent SolarWorld AG. These included the production sites in Freiberg in Saxony and Arnstadt in Thuringia. SolarWorld founder, Frank Asbeck has a 51% stake.
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: firstname.lastname@example.org.