Banks grant insolvency loan to centrotherm photovoltaics AG
- Financing of business operations secured
- Thus, current group liquidity of more than EUR 90 million
- Further important reorganization step
Banks are granting centrotherm photovoltaics AG an insolvency loan with a volume of approximately EUR 50 million to support its reorganization concept as part of the insolvency protection proceedings. At the same time, this move secures the financing of current business operations. As of today, group liquidity amounts to more than EUR 90 million.
---End of the ad hoc announcement ---
As communicated in the ad hoc announcement on July 10, 2012, a further reorganization step, the integration of the business activities of centrotherm management services GmbH & Co. KG into centrotherm photovoltaics AG, was concluded with effect as of July 1, 2012. This corporation law amalgamation simplifies structures and processes, which generates greater efficiency accompanied by lower costs.
About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, Germany, is a globally leading technology and equipment provider for the photovoltaics sector. The company equips well-known solar companies and new sector entrants with turnkey production lines and single equipment to manufacture silicon, and crystalline solar cells and modules. As a consequence, the Group possesses a broad and well-founded technological basis, as well as key equipment at practically all steps of the photovoltaics value chain. centrotherm photovoltaics guarantees its customers important performance parameters such as production capacity, efficiencies, and completion deadlines. The Group currently employs around 1,400 staff, and operates globally in Europe, Asia and the USA. centrotherm photovoltaics achieved revenue in the 2011 financial year of around EUR 700 million. The company is listed in the Prime Standard on the Frankfurt Stock Exchange.centrotherm photovoltaics AGJohannes-Schmid-Strasse 8 89143 BlaubeurenInternet: www.centrotherm.deISIN: DE000A0JMMN2WKN: A0JMMNAdmitted to the Regulated Market/Prime Standard, Frankfurt Securities ExchangeCorporate domicile: Germany