centrotherm photovoltaics AG: Algerian client cancels order to construct fully integrated solar module factory
With a letter dated June 13, 2013, CEEG, a subsidiary of Société Nationale de l’Electricité et du Gaz (Sonelgaz), has notified the consortium consisting of centrotherm photovoltaics AG and Kinetics Germany GmbH that it is cancelling the contract to construct a fully integrated solar module factory in Algeria. The original project volume amounted to around EUR 290 million. The company is examining the effectiveness and significance of this cancellation.
Even a legally effective cancellation would have no negative effects on the planned cash flow of centrotherm photovoltaics AG and the company's future development. Any damage compensation claims against the company would be covered by the insolvency plan.
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About centrotherm photovoltaics AG
centrotherm has been developing and realizing innovative thermal solutions for over 50 years. As a leading and globally operating technology group, we offer production solutions for the photovoltaic, semiconductor and microelectronic industries.
The continuous further development of our successful solutions in thermal processing and coating, such as for manufacturing crystalline solar cells and power semiconductors, form the basis for our successful partnerships with industry, research and development.
Our customers worldwide appreciate our production systems' process stability, scalability and availability in mass production. Above and beyond this, our work is distinguished by the fact that we create high-end process technology solutions which are specific for our customers and tailored to their requirements, and the fact that we are outstanding in system building.
We jointly confront the daily challenges of setting new trends, maximizing the efficiency of producing, for example, solar cells and semiconductors, and, coupled with our long machine durations, of securing investments.
In this way, we generate valuable competitive advantages for our customers through targeted innovations to processes and production solutions.
Our around 900 staff worldwide are committed to the further development of high-tech solutions for key markets.
centrotherm photovoltaics AG
Admitted to the Regulated Market/General Standard, Frankfurt Securities Exchange
Corporate domicile: Germany
Manager Public and Investor Relations
Tel: +49 7344 918-6304