EANS-Adhoc: centrotherm photovoltaics AG: scope for financial maneuver restricted
13.06.2012 – 23:23
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 13.06.2012 Blaubeuren, June 13, 2012 - Due to the continued poor market environment, and the resultant strained financing situation, merchandise credit insurance companies have today informed centrotherm photovoltaics AG that they will no longer insure merchandise deliveries to the centrotherm photovoltaics Group. Based on this information, the Management Board anticipates a negative liquidity effect in a low double-digit amount in millions of euros. In coordination with its banks, centrotherm photovoltaics AG has mandated a renowned management consultancy company to prepare a reorganization report that is to form the basis for further discussions with banks to secure the Group's financing. Until further notice, open credit and guarantee lines can no longer be utilized given current financing discussions with banks. ---End of the ad hoc announcement --- About centrotherm photovoltaics AG centrotherm photovoltaics AG, which is based at Blaubeuren, Germany, is a globally leading technology and equipment provider for the photovoltaics sector. The company equips well-known solar companies and new sector entrants with turnkey production lines and single equipment to manufacture silicon, and crystalline solar cells and modules. As a consequence, the Group possesses a broad and well-founded technological basis, as well as key equipment at practically all steps of the photovoltaics value chain. centrotherm photovoltaics guarantees its customers important performance parameters such as production capacity, efficiencies, and completion deadlines. The Group employed around 1,900 staff as of the December 31, 2011 reporting date, and operates globally in Europe, Asia and the USA. centrotherm photovoltaics achieved revenue in the 2011 financial year of around EUR 700 million. The company is listed in the Prime Standard on the Frankfurt Stock Exchange. Further inquiry note: Contact: Saskia Feil Senior Manager Investor & Public Relations Tel: +49 7344 918-8890 E-mail: saskia.feil@centrotherm.de Dr. Torsten Knödler Manager Public Relations Tel: +49 7344 918-8898 E-mail: torsten.knoedler@centrotherm.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: centrotherm photovoltaics AG Johannes-Schmid-Str. 8 D-89143 Blaubeuren phone: +49 (0) 7344 91880 mail: info@centrotherm.de WWW: http://www.centrotherm.de sector: Energy ISIN: DE000A0JMMN2 indexes: TecDAX stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English