By [email protected] SolarWorld AG, parent of the largest U.S. crystalline-silicon solar manufacturer, announced today it has filed for insolvency.
In a brief statement, management said it concluded, following a diligent review, “that due to the ongoing price erosion and the development of the business, the Company no longer has a positive going concern prognosis, is therefore over-indebted and thus obliged to file for insolvency proceedings.”
SolarWorld AG is headquartered in Bonn, Germany and operates a large manufacturing facility in Hillsboro, Oregon. The statement said the company is currently evaluating if its subsidiaries, which includes SolarWorld Americas, must also file for insolvency. The
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