In a statement released by Solons liquidator, Rüdiger Wienberg, from the firm hww wienberg Wilhelm, it was announced that Indian-Arabic company, Microsol has submitted a binding offer to buy nearly all of the Solon Groups business operations. It has further promised that 433 of the 471 jobs will be retained, in addition to the Berlin location.
The purchase price has not been disclosed, however, the takeover has already been approved by Germanys Federal Cartel Authority.
The sale of a business by the liquidator is only possible after the opening of insolvency proceedings, according to insolvency law, explained the statement. The process was opened this morning.
"That it was possible to find a buyer for Solon, in such a short time and in such a difficult environment, is a great success," commented Wienberg. "It was particularly important [to find a buyer] since the insolvency fund expired at the end of February, and only upon acceptance by Microsol, is the continuation of the business in open insolvency possible."
The details
According to the statement, Microsol wants to take over the research and development department in Berlin Adlershof, in addition to the central functions of the other businesses, such as purchasing and sales. As a result, 311 of the 326 Berlin jobs will remain. Furthermore, the company is looking to acquire the manufacturing operations of Solon Photovoltaik GmbH, also in Berlin Adlershof, including 122 of the 125 jobs, the Italian subsidiary, Solon S.p.A. with 177 jobs Solon S.p.A. shut down its module production at the start of February and the U.S. subsidiary, Solon Corp, with 58 jobs.
The operation of Solon Nord, based in Griefswald will, however, be discontinued, meaning the 18 employees located there will be laid off. In relation to Solons French subsidiary, where 10 people are employed, Wienberg is still looking for a buyer.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.