Insolvent German solar firm Conergy has said it hopes to agree deals for the sale of its PV module and mounting manufacturing units by October.
Conergy said it is in talks with domestic and international companies interested in buying its manufacturing subsidiaries.
“We have already been in promising talks with several potential investors,” said preliminary insolvency administrator Sven-Holger Undritz, from the law firm White & Case.
“This is an important signal to the market and especially to the more than 500 employees in Brandenburg. Within the recently started sales process we want to drive the negotiations forward and, if possible, complete them by the beginning of October,” added Undritz.
Conergy started insolvency proceedings at the start of July after a move to introduce a new investors was turned down by creditors.
Last month it was revealed that the company had a buyer for its brand, sales operations and administrative infrastructure with US-based Kawa Capital Management the preferred choice. Manufacturing operations were excluded from the deal.
Manufacturing proceedings were halted for a few weeks after the insolvency proceedings began but resumed on 22 July.
Conergy’s Mounting Systems division is currently working on a number of orders from Thailand, Japan and the US. Managing director Stefan Spork is bullish about its long-term prospects.
“As a company, we are uniquely positioned in the global market and our customers continue to remain loyal to us,” he said. “Discussions with potential investors are already heading into the right direction and we are confident that Mounting Systems is going to play a central role in the global solar markets in the future.”
Sven K. Starke, managing director of Conergy’s PV module was equally confident about the future of its manufacturing base in Frankfurt.
“The demand for our high-quality products is still high and we can react flexibly to customer requirements,” said Starke.