centrotherm Receives 50 Million Euro Loan To Fund Restructuring

Posted by SI Staff on August 15, 2012 No Comments
Categories : New & Noteworthy

Insolvent Germany-based PV equipment supplier centrotherm photovoltaics AG says it has been granted a loan totaling approximately 50 million euros as part of its restructuring process.

The loan will secure the financing of current business operations, the company adds. Current liquidity stands at approximately 90 million euros. Last month, centrotherm announced its corporate restructuring plan, which calls for what centrotherm describes as ‘simplified’ structures and processes in order to lower costs.

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