German PV module manufacturer, Solar-Fabrik has acquired the module manufacturing facility of insolvent Centrosolar, Sonnenstromfabrik, in Wismar, Germany, securing 143 jobs.
The deal was organised through the insolvency administrator.
Solar-Fabrik was operating its own three-line production plant at around 150MW in 2013 with a nameplate capacity of 210MW. The acquisition of the Sonnenstromfabrik plant was said to increase its capacity to around 300MW. However, the Sonnenstromfabrik plant, which was established in 2008 was said to have a nameplate capacity of 200MW.
Solar-Fabrik has established a new subsidiary company to operate Sonnenstromfabrik with a capital injection of €25 million and will headed by Joern Wirth, VP finance at Solar-Fabrik, and Ralf Hennigs, the long-term managing director of Centrosolar’s Sonnenstromfabrik.
The company noted that it expected a smooth transition for the production plant from insolvency back to normal operation, including processing of outstanding orders.
Solar-Fabrik has also acquired as part of the deal current inventory valued at around €300,000 and will also have rights to produce Centrosolar’s module range.