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Financial restructuring process of SolarWorld AG: major resolutions to be passed in August 2013

22-05-13

Series manufacturing of new products will start

Solar technology group SolarWorld AG continues the process of its financial restruturing as scheduled by holding meetings of its noteholders today and tomorrow. After these meetings creditors shall appoint a noteholders’ representative for further negotiations latest in early July. It is planned to have the necessary resolutions for the implementation of restructuring measures be passed by the shareholders’ meeting of the group and holders of notes issued by SolarWorld AG in August 2013. Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG: “In the next three months, we want to close negotiations with all creditors constructively and thus be able to build a good future for SolarWorld.”

Meanwhile, the group will start series manufacturing of new products such as the new, robust and durable glas-glas modules and modules with higher efficiency. “Even in this difficult phase, we have invested in new technologies – successfully so! This way, we have been able to reduce costs and increase the performance of our products for our customers,” says Frank Asbeck. Furthermore, the company expects the German and European solar markets to return to fair competition in the second half of the year, after the European Commission has announced to counteract Chinese dumping as the U. S. have done before. Chinese dumping has been going on for three years now and has destroyed thousands of jobs in the solar industry.

About SolarWorld AG: SolarWorld AG manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs approximately 2,600 people and carries out production in Freiberg, Germany, and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production ‒ including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production. SolarWorld has been publically traded on the stock market since 1999. More information at www.solarworld.de/en

Contact:
SolarWorld AG Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.de; Internet: www.solarworld.de/en/investor-relations



 
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