© kheng guan toh Business | July 26, 2017

Solarworld: investor concept provides for 450 employees

The provisional insolvency administrator for SolarWorld AG, Horst Piepenburg, has been negotiating with an investor group concerning the takeover of the production sites in Freiberg (Saxony) and Arnstadt (Thuringia).
The investor group expressed its intention to take over the land, machinery and inventory at the production sites of SolarWorld in Freiberg (Saxony) and Arnstadt (Thuringia). Negotiations state that 450 employees could be transferred to the newly established company. At the same time, it will be discussed whether the remaining 1'200 employees at these two locations will be offered access to an employment and qualification company.

"As announced a few weeks ago, we are fighting to keep the brand and the expertise of the SolarWorld workforce as much as possible," says Piepenburg. "With this solution, we would make extensive use of the possibilities in a provisional insolvency proceeding in order to meet the interests of the creditors involved and to maintain a significant number of jobs."

"I cannot deny this opportunity to anyone and therefore we will postpone the decisions that were generally expected for this week." However, the employees of the holding company at the Bonn location will be laid off once the insolvency proceedings have been opened on August 1, 2017. The financing of a transfer company or of short-time work for the employees has not been successful.


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August 20 2018 3:56 pm V10.1.0-1