Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
14
June
2012

centrotherm in dire straits

Merchandise credit insurance companies will no longer insure merchandise deliveries to the centrotherm photovoltaics Group and open credit and guarantee lines can no longer be utilized given current financing discussions with banks, an ad-hoc announcement states.
Due to the continued poor market environment, and the resultant strained financing situation, merchandise credit insurance companies have informed centrotherm photovoltaics AG that they will no longer insure merchandise deliveries to the centrotherm photovoltaics Group. Based on this information, the Management Board anticipates a negative liquidity effect in a low double-digit amount in millions of euros.

In coordination with its banks, centrotherm photovoltaics AG has mandated a renowned management consultancy company to prepare a reorganization report that is to form the basis for further discussions with banks to secure the Group's financing. Until further notice, open credit and guarantee lines can no longer be utilized given current financing discussions with banks.
Read comments for this article

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
blog comments powered by Disqus
Ad
Ad
Ad
Ad
Load more news