SolarWorld Americas Secures $6 Million Cash Infusion, Cuts 360 Jobs

By [email protected] SolarWorld Americas has secured a lifeline.

The financially troubled solar manufacturer announced yesterday that lenders have agreed to immediately forward $6 million in cash, which will allow the firm to stabilize operations and fight a high-stakes U.S. solar trade dispute.

Lenders will also permit the Hillsboro, Ore.-based company to sell any assets not required for operations, including a warehouse and land next to its factory, and put the proceeds back into the business. SolarWorld leadership expects these sales, coupled with the $6 million, to result in a combined cash infusion in the “double-digit-million-dollar range.”

“This financial reinforcement is good for our customers

Read Full Article Here

For more great articles: Greentech Media: Headlines

(Visited 2 times, 1 visits today)



© 2014 RenewaNews