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SolarWorld AG collapsed and has already filed for insolvency proceedings. Days after SolarWorld AG announced the insolvency, SolarWorld Americas announced that it will operate as usual without being affected by its parent company.
SolarWorld announced its insolvency on May 10, explaining that it was unable to pay off its debts due to incapability of turning profitable. The company blamed this consequence to global module price reduction.
SolarWorld Americas, based in Hillsboro, Oregon, stated on May 13 that it will operate as usual and maintaining full operations. The company claimed that it “is continuing to implement efficiencies and working with external partners to position the company for stabilization and a continued competitive position in the marketplace,” according to its statement.
“We deeply appreciate the ongoing support of our loyal customers in the Americas at this tumultuous time for the solar industry,” said Juergen Stein, U.S. president of SolarWorld. “Together, we are striving to maintain our leadership role in the U.S. solar manufacturing industry for years to come.”
SolarWorld Americas currently employs more than 800 workers and is one of the few operational PV cell and module manufacturers in the U.S.
Besides, SolarWorld AG announced on May 12 that the Management Board has filed for insolvency proceedings at the local court of Bonn, and the court has appointed attorney at law Horst Piepenburg as preliminary insolvency administrator with the reservation of approval.
SolarWolrd AG’s affiliated companies, including SolarWorld Industries Sachsen GmbH, SolarWorld Industries Thüringen GmbH, SolarWorld Industries Deutschland GmbH and SolarWorld Innovations GmbH, have all filed for insolvency proceedings at the same court, too.