DGAP-News: Group restructuring of centrotherm photovoltaics AG concluded: Disposal of GP Solar to strategic investor
(firmenpresse) - DGAP-News: centrotherm photovoltaics AG / Key word(s): Restructure of
Company/Disposal
Group restructuring of centrotherm photovoltaics AG concluded:
Disposal of GP Solar to strategic investor
02.05.2013 / 12:03
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Blaubeuren/Ulm, May 2, 2013 - centrotherm has sold its subsidiary GP Solar
to ISRA VISION AG, thereby achieving its target structure for its new start
shortly before the Ulm District Court is due to terminate insolvency
proceedings. With its future concept, centrotherm is concentrating on its
technological strengths in its core business areas of crystalline solar
cells and semiconductors, as well as microelectronics. During its
reorganization phase, the technology and systems provider sold subsidiaries
such as Glatt Maschinenbau GmbH, and now GP Solar, which do not form part
of its core business, as well as unprofitable parts of the company.
A fixed price component equivalent to approximately 50 percent of GP
Solar's forecast 2013 revenue and a unit-based earnout component was agreed
as the purchase price. GP Solar and its subsidiary GP Inspect anticipate
current-year revenue of more than EUR 3 million. This generates a positive
contribution for centrotherm and its creditors that provides additional
liquidity. The purchase agreement also includes a partnership-based
supplier relationship from which centrotherm's customers from the
photovoltaic and semiconductor industries can benefit.
'With ISRA VISION - a world market leader in surface inspection systems -
we have found a strategic investor that can act as a well-equipped partner
to GP Solar in tapping the future potential of the photovoltaic sector. At
the same time, a good supplier relationship with GP Solar continues to
exist through its new owner,' commented Tobias Hoefer and Jan von
Schuckmann, Management Board members responsible for the reorganization
under the company's own administration.
A strong and efficient 'new' centrotherm is being created at the Group's
main site at Blaubeuren, Germany, following the termination of insolvency
proceedings and subsequent merger of centrotherm thermal solutions with the
parent company (the listed stock corporation). The subsidiary FHR
Anlagenbau GmbH in Dresden, whose range of products and services rank among
core competences, remains within the Group. Newly-founded SiTec GmbH, a
wholly-owned subsidiary of the parent company, is to continue to operate
the Silicon&Wafer Division, which will push further ahead with the
construction of a polysilicon factory in Qatar, among other projects. After
the Ulm District Court confirmed centrotherm photovoltaics AG's insolvency
plan last Friday, the proceedings, which are still running in formal terms,
can soon be terminated, prospectively by the end of May 2013.
About centrotherm photovoltaics AG
centrotherm photovoltaics AG is one of the globally leading providers of
technology and production solutions to the photovoltaic and semiconductor
industries. Our core competencies consist in the thermal processing and
coating of waiters for the manufacturing of crystalline solar cells and
power semiconductors, as well as for microelectronics.
Contact:
Nathalie Albrecht
Manager Public and Investor Relations
Tel: +49 7344 918-6304
E-mail: investor(at)centrotherm.de
End of Corporate News
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02.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: centrotherm photovoltaics AG
Johannes-Schmid-Strasse 8
89143 Blaubeuren
Germany
Phone: +49 7344 918-0
Fax: +49 7344 918-8388
E-mail: info(at)centrotherm.de
Internet: www.centrotherm.de
ISIN: DE000A0JMMN2
WKN: A0JMMN
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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209410 02.05.2013
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Datum: 02.05.2013 - 12:03 Uhr
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