ASOLA Automotive Solar Deutschland GmbH files for insolvency

(PresseBox) ( Erfurt, )
Volker Reinhardt, the provisional insolvency administrator appointed at Erfurt Local Court, is continuing one of the most important manufacturers of solar roofs for the automotive industry in order to secure the long-term preservation of the company.

"I see good prospects for keeping business operations going and completing existing orders." said insolvency law specialist lawyer Volker Reinhardt after an initial round of talks at the debtor company.

After insolvency proceedings over the assets of the sister company had already been initiated, the company located in the automotive sector has also now filed for insolvency proceedings to be initiated.

With the application, the search for investors for this specialised business segment, far removed from routine business has also now begun. After ASOLA Solarpower GmbH, which operates in the standard module sector, has used insolvency proceedings for restructuring since February 2013, the sister company ASOLA Automotive Solar Deutschland GmbH is likewise looking to reorganise via insolvency proceedings. The grounds for this filing for insolvency are the loss of a major client and a "domino effect" from the insolvency of ASOLA Solarpower GmbH. ASOLA Automotive develops, markets and produces special spherically curved solar modules for the roofs and surfaces of vehicles. This both as a "tier 1 supplier" for automotive manufacturers, but also as a "tier 2" for manufacturers of roof systems for the automotive industry. ASOLA Automotive employees have more than 25 years of knowhow in this special solar module segment and in this special systems technology for vehicles.

On the basis of these many years of expertise in the design and production of special modules, ASOLA Automotive also offers virtually all module technologies for buildings and facade integration.

ASOLA Automotive developed and has supplied since 2011 for example the first complete solar roof of a vehicle.

This solar roof of the Fisker "KARMA" was also distinguished with a "Frost + Sullivan" award in 2011 and is the largest, most high-performance and most curved solar module in the world.

Further products and projects are in the processing phase. Interested parties and possible investors are welcome to contact the provisional insolvency administrator, Mr Volker Reinhardt, or the managing director, Mr Reinhard Wecker.

Rechtsanwälte und Insolvenzverwalter GmbH

REINHARDT & KOLLEGEN goes back to the chambers founded by attorney Volker Reinhardt in 1994.

The chambers’ activities focus on insolvency administration, the restructuring and reorganisation of companies, commercial law, particularly in the field of mergers & acquisitions (M & A) and advising on company successions.

The insolvency administrators working in the chambers are currently appointed at seven insolvency courts. The chambers operate insolvency offices in Chemnitz, Coburg, Dresden, Erfurt, Gera and Nordhausen.
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