Solarworld announces insolvency

5/10/17, 8:40 PM -

The industry had already expected it: Today, the Management Board of Solarworld AG announced insolvency of the largest European manufacturer of solar modules and solar cells.

The Freiberg factory of Solarworld is the largest solar factory in Europe.
The Freiberg factory of Solarworld is the largest solar factory in Europe.

After extensive examination, the management team became convinced that "there is no longer a positive prognosis in the course of the current business cycle and the ongoing price distortions."

Thus the company is over-indebted that the obligation to apply for insolvency exists. The insolvency application obligation is examined for the SolarWorld AG subsidiaries. A social plan is already being negotiated for the factories in Freiberg (Saxony) and Arnstadt (Thuringia). (HS/HCN)

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