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Baoding Tianwei Electric subsidiaries to enter bankruptcy proceedings

Tianwei Sichuan Silicon Co in particular has been made eligible by the Sichuan Xinjin County People's Court to be liquidated.

The PV manufacturing subsidiaries of bankrupt Baoding Tianwei Electric are to start bankruptcy court proceedings, according to financial filings from the parent company.

Polysilicon and mononocrystalline ingot/wafer producer subsidiary, Tianwei Sichuan Silicon Industry Co, PV module manufacturer and project developer, Tianwei New Energy and a-Si thin-film subsidiary, Baoding Tianwei film PV Co are all in various stages of bankruptcy proceedings. 

Tianwei failed to pay around US$13.8 million interest on a bond in April 2015 and is a subsidiary of struggling state-owned, South Industries Group Corp, the first state-owned company to default on bond payments in China.

Tianwei Sichuan Silicon Co in particular has been made eligible by the Sichuan Xinjin County People's Court to be liquidated.

Tags: c-si manufacturing, pv modules, solar cell

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