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Potential new investor for centrotherm photovoltaics
Sol Futura Verwaltungsgesellschaft mbH has concluded an agreement concerning the disposal of its entire 80 percent interest in centrotherm photovoltaics AG.
Solarpark Blautal GmbH, Blaubeuren, is the acquirer of the interest. This company's shareholders comprise centrotherm co-founder Robert M. Hartung as well as an international strategic investor. Following the execution of the purchase agreement, which still depends on conditions being met, Solarpark Blautal will hold 90 percent of the shares in centrotherm photovoltaics AG, including the shares of TCH. The purchase agreement is anticipated to be executed by the end of the first quarter of 2016 at the latest. The shares in Swabia-based technology and systems supplier centrotherm will then transfer from Sol Futura to the new owner. centrotherm co-founder Robert M. Hartung and an international strategic investor will then hold a qualified majority of the shares in centrotherm photovoltaics AG via Solarpark Blautal. The employees have been informed about the transaction at an employee meeting. Robert M. Hartung comments as follows on the forthcoming transaction: "As co-founder of centrotherm photovoltaics AG, I have always felt committed to the company, and to finding a further investor for it. We have managed to acquire an international strategic investor as a co-shareholder, and I am convinced that together we can provide important impulses for the company's future." CEO Hans Autenrieth adds: "We are happy that the new investor re-establishes a good deal of clarity and confidence in centrotherm's future – especially for our employees, but also for our customers, business partners and our shareholders." Negotiated financing agreement and forthcoming fulfillment of the insolvency plan The Management Board of centrotherm photovoltaic AG has negotiated a financing agreement to secure the company's financing after the disposal of the interest by Sol Futura. The due insolvency receivables of unsubordinated creditors of centrotherm photovoltaics AG as well as of one of its former subsidiaries will be serviced one month after the execution of the transaction. Once the disposal of the interest comes into force and creditors are satisfied, the insolvency plan of centrotherm photovoltaics AG would be almost completely fulfilled, subsequent to approval of the plan by the Ulm District Court. Retention of location and further diversification The new investor and majority shareholder Solarpark Blautal will retain the Blaubeuren location, and is relying on the employees of centrotherm photovoltaics AG. "The company has core competences in thermal processes and systems building. National and international customers from the photovoltaic, semiconductor and microelectronics industries appreciate and deploy centrotherm's production solutions. We also aim to exploit this potential in the future for other future technologies," notes Robert M. Hartung, Managing Director of Solarpark Blautal GmbH.
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