Centrotherm discontinues operations at Vienna branch

Blaubeuren, Germany - As part of its ongoing reorganization process, centrotherm photovoltaics will discontinue the operations and financial backing of the Vienna branch, centrotherm power solutions GmbH.

Centrotherm had entered into insolvency under protective shield proceedings in the beginning of March this year, however enabling it to continue operations.

Due to the decision taken by the parent company's Management to no longer procure services, and also to no longer render payments, there is now no longer any positive forecast for the continued existence of the centrotherm power solutions, formerly active in engineering services and large-scale project management. The 38 staff who are affected by this move have already been informed of this decision. At the moment various options for action are being reviewed relating to the winding-down of the company according to Austrian law.

Source: IWR Online, 22 Aug 2012