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Banks grant insolvency loan to centrotherm photovoltaics AG
- Financing of business operations secured
- Thus, current group liquidity of more than EUR 90 million
- Further important reorganization step
Banks are granting centrotherm photovoltaics AG an insolvency loan with a volume of approximately EUR 50 million to support its reorganization concept as part of the insolvency protection proceedings. At the same time, this move secures the financing of current business operations. As of today, group liquidity amounts to more than EUR 90 million.
As communicated in the ad hoc announcement on July 10, 2012, a further reorganization step, the integration of the business activities of centrotherm management services GmbH & Co. KG into centrotherm photovoltaics AG, was concluded with effect as of July 1, 2012. This corporation law amalgamation simplifies structures and processes, which generates greater efficiency accompanied by lower costs.
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