Hanwha Formally Takes Over Insolvent Q-Cells

Posted by SI Staff on October 22, 2012 No Comments
Categories : New & Noteworthy

Q-Cells SE's insolvency administrator, Henning Schorisch, has transferred the company to its new owner, Hanwha Chemical Corp. Q-Cells was bought by an indirect subsidiary of Hanwha Chemical Corp. in August; the sales process now has been formally completed.

More than 80% of Q-Cells' jobs have been preserved, the company notes. The integration process entailed job cuts in Q-Cells' administration department, as it overlapped with the Hanwha organization, as well as in production, due to modernization of the Thalheim, Germany, production line.

Q-Cells initially filed for insolvency in April.

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