In an announcement on Tuesday, March 5, the stock exchange said that SolarWorld AG would be removed from the TecDAX on March 18. Over the past months, the shares of the Germany-based photovoltaic manufacturer have dropped in value.
In the fall of 2007, SolarWorld reached an absolute high when it hit more than 47 per share. However, in recent times, its shares have fallen into the penny or cent stock region. Currently, they are valued at around 1.20 each.
At the end of January, SolarWorld announced that it will have to undertake massive debt adjustments and business restructuring. It has also separated from long time chief operating officer, Boris Klebensberger. According to a statement from SolarWorld, both sides mutually agreed on the decision.
Consequently, the production sites in the U.S. and Germanys Freiburg will be represented by Gordon Brinser and Mario Behrendt as divisional directors. Meanwhile, Frank Asbeck will assume overall responsibility of SolarWorlds business operations.
Translated by Becky Beetz.
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.