Conergy completes insolvency process with Mounting Systems sell off

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Conergy's solar racking equipment arm, Mounting Systems, has been bought by Frankfurt based investment firm, Nordwest Industrie Group.

The contract was signed today, but the purchase price is being kept confidential. 

One hundred and fifty jobs have now been secured at the headquarters in Rangsdorf, and a further 30 at the production site in Sacremento, USA, Conergy said.

The acquisition is the third successful and final investor process of Conergy’s insolvency procedures. Kawa Capital has acquired Conergy’s sales division while Astronergy has acquired Conergy’s module factory in Frankfurt.

On 11 December, Conergy began the auction for its Frankfurt factory’s wafer equipment.

Overall 740 out of 1,000 jobs have been secured – 350 at Conergy sales, 210 at the modules factory, and 180 at Mounting Systems.

“It is our goal to further pursue Mounting Systems’ successful business strategy, further develop it and expand to new countries,” said Bernd Petrat, managing director of Nordwest Industrie Group.

“More than 20 years of know how in the development, manufacture and sales of racking systems for solar installations is the ideal basis to do so.”

Thanks to the contract Mounting Systems has “a solid balance sheet and is positioned to meet the future challenges of the solar industry”, said Stefan Spork, managing director of Mounting Systems. “We will now expand this and continue to be a reliable partner for our customers in the future,” he said.

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