SolarWorld Americas expects immediate Infusion of Cash to lift up U.S. Operations
Hillsboro, USA - SolarWorld Americas Inc. announced that it expects a double-digit-million-dollar infusion of cash to enable the company to stabilize and optimize operations through 2017 and beyond.
"This financial reinforcement is good for our customers and suppliers alike," Stein said. "It means quite simply that we can reassure our business partners that we will remain a reliable force not only in supplying leading solar technology but also in continuing to fight for fair trade in the U.S. market and improving market conditions there."
SolarWorld Americasâ€™ parent company, SolarWorld AG, and several sibling subsidiaries are operating under insolvency proceedings in Europe. However, SolarWorld Americas continues to operate outside any similar proceedings. Meantime, the company is co-petitioner in a Section 201 trade case that seeks relief for the pioneering U.S. solar manufacturing industry from a deluge of imports that has heavily distorted the industryâ€™s market.
"We are re-investing in our business to continue serving our loyal customers, as always," Stein said. "With that, we will continue to fight for the U.S. solar industryâ€™s future, just as we have done through the industryâ€™s ups and downs over these four past decades."
Source: IWR Online, 17 Jul 2017