DGAP-News: Solar Millennium AG: Insolvency proceedings initiated for Solar Millennium AG
(firmenpresse) - DGAP-News: Solar Millennium AG / Key word(s): Insolvency
Solar Millennium AG: Insolvency proceedings initiated for Solar
Millennium AG
28.02.2012 / 12:45
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Corporate News
Insolvency proceedings initiated for Solar Millennium AG
Erlangen, 28 February 2012 - The Amtsgericht [Local Court of] Fürth
initiated the insolvency proceedings for Solar Millennium AG on Tuesday.
The court appointed Volker Böhm, lawyer from Nuremberg, as insolvency
administrator. He had already been appointed interim insolvency
administrator last December. Upon the initiation of insolvency proceedings,
Mr. Böhm assumes power of administration and disposal from the former
Company organs.
The search for investors for the Company will continue. The insolvency
administrator still sees takeover opportunities for the Flagsol GmbH
subsidiary in Cologne and some of the Spanish power plant projects,
particularly Arenales. Apparently investors are also interested in taking
over Solar Millennium AG as a whole, although the prospects of success are
highly uncertain in this respect. Therefore, the Company's remaining staff
of about 40 received a notice of termination on Tuesday.
The Amtsgericht appointed a creditors' committee of inspection. The first
creditors' meeting is scheduled to take place on 15 May 2012.
About Solar Millennium AG:
Solar Millennium AG (ISIN DE0007218406), Erlangen, is a company that
operates globally in the renewable energy sector, with its main focus on
solar power plants. Together with its subsidiaries and associates, the
Company specializes in solar-thermal power plants, particularly parabolic
trough plants.
The Company covers all important business sectors along the value chain for
solar power plants: from project development and financing to technology
and the turnkey construction and operation of power plants. Solar
Millennium realized Europe's first parabolic trough power plants in Spain
as well as the first modern parabolic trough solar field in Egypt.
Contact:
Solar Millennium AG
Corporate Communications: presse(at)SolarMillennium.de
Phone: +49 (0)9131 9409-0
Schultze&Braun
Mail: Presse(at)schubra.de, Phone: +49 (0)179 1009080
This press release constitutes neither an offer to sell nor the
solicitation of an offer to buy any securities of Solar Millennium AG. The
press release shall not form the basis for investment decisions regarding
securities of the company. Any such investment decision of a prospective
investor shall be based solely on such prospective investor's own
investigations and assessments.
This release contains forward-looking statements. These statements are not
a description of past facts, but rather relate to expectations and opinions
of Solar Millennium AG. These statements are based on current plans,
assessments and forecasts of the company. Investors should not rely on
these statements. Forward-looking statements must be understood in the
context of the circumstances existing at the time when they were made. The
company assumes no obligation to update the forward-looking statements in
this release based on new information or future events. Forward-looking
statements always involve risks and uncertainty. Due to a multitude of
factors, actual events and actual developments may differ significantly
from the forward-looking statements contained herein. Thispress release
was originally prepared in German. The translation of this release or parts
thereof is considered as a service for journalists, analysts and investors
who are not able to understand German. Only the German version is legally
binding.
End of Corporate News
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158430 28.02.2012
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Datum: 28.02.2012 - 12:45 Uhr
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