centrotherm photovoltaics AG

EANS-Adhoc: centrotherm photovoltaics AG files for Chapter 11-type proceedings under its own administration

  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.

Blaubeuren, July 10, 2012 - centrotherm photovoltaics AG has today submitted an
application to the relevant District Court of Ulm for the launching of
insolvency protection proceedings (pursuant to the German Act Relating to the
Further Simplification of the Reorganization of Companies [ESUG], and Section
270b of the German Insolvency Directive [InsO]), and for the opening of
insolvency proceedings under its own administration in connection with this
application. With the help of these proceedings, the company aims to pursue the
reorganization path that it has already adopted. The application includes the
subsidiaries centrotherm thermal solutions GmbH & Co. KG and centrotherm SiTec
GmbH. The activities of the companies centrotherm management services GmbH &
Co. KG and centrotherm cell & module GmbH are to be prospectively bundled
within the parent company as part of the reorganization. All other subsidiaries
both in Germany and abroad will continue to operate as previously, and will not
participate in the insolvency protection proceedings.

The German Act Relating to the Further Simplification of the Reorganization of
Companies (ESUG), the instrument that centrotherm has applied for, is designed
to provide protection to companies in insolvency proceedings, and is an act
which came into force on March 1, 2012. The ESUG allows companies to
restructure themselves based on a coordinated reorganization and future
concept. During the "protective" phase, which is limited to three months, the
company is protected from creditors' enforcements and sanctions, and can remain
fully operational.

To support these moves, the Supervisory Board of centrotherm photovoltaics AG
has appointed reorganization expert and specialist insolvency lawyer Tobias
Hoefer to the Management Board with effect as of July 11, 2012.

---End of the ad hoc announcement ---

The Corporate News that carries the same title as this ad hoc announcement
includes further information

end of 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:
Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-mail: saskia.feil@centrotherm.de

Nathalie Albrecht
Manager Public Relations
Tel: +49 7344 918-6304
E-mail: nathalie.albrecht@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:     Prime All Share, GEX, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English

Weitere Meldungen: centrotherm photovoltaics AG

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