DGAP-News: SolarWorld AG / Key word(s): Capital Reorganisation
Financial restructuring process of SolarWorld AG: major resolutions to
be passed in August 2013
22.05.2013 / 15:34
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22.05.2013
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)
Financial restructuring process of SolarWorld AG: major resolutions to be
passed in August 2013
Series manufacturing of new products will start
Solar technology group SolarWorld AG continues the process of its financial
restruturing as scheduled by holding meetings of its noteholders today and
tomorrow. After these meetings creditors shall appoint a noteholders'
representative for further negotiations latest in early July. It is planned
to have the necessary resolutions for the implementation of restructuring
measures be passed by the shareholders' meeting of the group and holders of
notes issued by SolarWorld AG in August 2013. Dr.-Ing. E. h. Frank Asbeck,
CEO of SolarWorld AG: 'In the next three months, we want to close
negotiations with all creditors constructively and thus be able to build a
good future for SolarWorld.'
Meanwhile, the group will start series manufacturing of new products such
as the new, robust and durable glas-glas modules and modules with higher
efficiency. 'Even in this difficult phase, we have invested in new
technologies - successfully so! This way, we have been able to reduce costs
and increase the performance of our products for our customers,' says Frank
Asbeck. Furthermore, the company expects the German and European solar
markets to return to fair competition in the second half of the year, after
the European Commission has announced to counteract Chinese dumping as the
U. S. have done before. Chinese dumping has been going on for three years
now and has destroyed thousands of jobs in the solar industry.
About SolarWorld AG: SolarWorld AG manufactures solar power systems and in
doing so contributes to a cleaner energy supply worldwide. The company,
located in Bonn, employs approximately 2,600 people and carries out
production in Freiberg, Germany, and Hillsboro, USA. From raw material
silicon to the solar module, SolarWorld manages all stages of production â
including its own research and development. Through an international
distribution network, SolarWorld supplies customers all over the world with
solar modules and complete systems. The company maintains high social
standards at all locations across the globe, and has committed itself to
resource- and energy-efficient production. SolarWorld has been publically
traded on the stock market since 1999. More information at
www.solarworld.de/en
Contact:
SolarWorld AG Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.de; Internet:
www.solarworld.de/en/investor-relations
End of Corporate News
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22.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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212542 22.05.2013
DGAP-News: Financial restructuring process of SolarWorld AG: major resolutions to be passed in August 2013
| Source: EQS Group AG