Centrotherm Photovoltaics AG to shut down engineering, project management subsidiary in Vienna
- Centrotherm has continued other operations at its site in Blaubeuren, Germany despite filing for insolvency
Centrotherm Photovoltaics AG (Blaubeuren, Germany) has announced that it will cease operations at subsidiary Centrotherm Power Solutions GmbH (Vienna, Austria), which provided engineering services and project management, as part of its ongoing reorganization.
Centrotherm is reviewing various options for actions related to the winding down of the company in accordance with Austrian law. 38 employees will be affected by the decision.
Other operations continue despite filing for insolvency
Centrotherm filed for insolvency on July 10th, 2012, but continues operations in other divisions, including its Solar Cell & Module segment, which has reported new orders since the filing.
On August 14th, 2012, Centrotherm also reported that it will receive a USD 61 million loan to support its reorganization as part of its insolvency proceedings.
2012-08-23 | Courtesy: Centrotherm | solarserver.com © Heindl Server GmbH
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