Sunfilm Prepares Strategic Realignment By Filing For Insolvency

Date: 30 March 2010
Source: Sunfilm
Grossroehrsdorf, Germany - March 26, 2010. On March 25, the Executive Board of Sunfilm AG has filed for insolvency at the district court in Dresden.

Affected are both locations in Grossroehrsdorf and Thalheim with 300 employees, who have already been working reduced hours since the end of 2009. The bankruptcy court has appointed the attorney Mr. Rainer M. Bähr as temporary insolvency administrator.
The current market conditions and feed-in tariff discussions in Germany hit Sunfilm at an already difficult stage of its market entry. The shareholders have stopped their financial support. The Executive Board is continuing its discussions with the banks about securing the future of the company.
Wolfgang Heinze, chairman of the Executive Board of Sunfilm AG, summarized the current situation: “By filing for insolvency we are aiming for a strategic realignment of the company with a new investor. Our high-performance products, the state-of-the-art production lines in combination with an above-average market- and growth potential of our technology and the competence of our employees form a very solid basis for this. We regret the current development and want to express our thanks for the support we have received so far. We will use all our efforts to lead the company into a successful future.”

600450 Sunfilm Prepares Strategic Realignment By Filing For Insolvency

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