Solarworld AG: Insolvency of affiliated companies
On May 11, 2017, the Management Board of SolarWorld AG filed for insolvency proceedings at the local court of Bonn. Some of the affiliated companies followed suit on May 12, 2017.
The Management of the affiliated companies SolarWorld Industries Sachsen GmbH, SolarWorld Industries Thüringen GmbH, SolarWorld Industries Deutschland GmbH and SolarWorld Innovations GmbH also filed for insolvency proceedings at the local court of Bonn on May 12, 2017, due to the insolvency of the parent company. In the due course of these proceedings, the court has appointed attorney at law Horst Piepenburg as preliminary insolvency administrator for all of those companies. SolarWorld Americas Inc., based in Hillsboro, Ore., is operating as usual and maintaining full operations. "We deeply appreciate the ongoing support of our loyal customers in the Americas at this tumultuous time for the solar industry. Together, we are striving to maintain our leadership role in the U.S. solar manufacturing industry for years to come", said Juergen Stein, U.S. president of SolarWorld.