SolarWorld AG takes measures for the planned merger of manufacturing subsidiaries at Freiberg site
As part of its operational restructuring, SolarWorld AG has taken the necessary legal measures to merge the three manufacturing subsidiaries in Freiberg, Deutsche Solar GmbH, Deutsche Cell GmbH and Solarfactory GmbH, into a single company. The first step was to enter the change of company name of Deutsche Solar GmbH into SolarWorld Industries Sachsen GmbH in the Commercial Register. Subject to the consent of the creditors, the next step will be to merge Deutsche Cell GmbH and Solarfactory GmbH into SolarWorld Industries Sachsen GmbH pursuant to sec. 2 et seqq. German Reorganization Act (UmwG).
The integration of the value chain stages of wafers, cells and modules into one company will allow further cost reductions and process optimizations and increase effectiveness with regard to innovations and quality.
The merger is intended to enable the Group to make expected savings of approximately € 5 million per annum and provide a decisive contribution to increase the competitiveness of the Group in the international solar market.
Bonn, June 30, 2014
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11.07.2014 | Category: Ad-hoc (de)