2012-07-06 Solar Millennium AG

Solar Millennium AG: Insolvency administrator sells Flagsol stake to Ferrostaal


Erlangen, 6 July 2012 – The insolvency administrator of Solar Millennium AG, Volker Böhm, sold Solar Millennium’s 74.9 per cent stake in Flagsol GmbH to Ferrostaal GmbH. The engineering and plant construction company Flagsol GmbH is a joint venture of Solar Millennium and Ferrostaal. It participated in the development and realization of Solar Millennium’s solar power projects.

Ferrostaal will maintain operations of the complete company and take over all of its 80 employees. The headquarters of the company are supposed to remain in Cologne. The companies have agreed to maintain silence about the purchase price.

“I’m extremely pleased about the fact that all jobs were saved and that we managed at the same time to generate significant proceeds for Solar Millennium AG’s creditors,” Böhm stated after the purchase agreement had been signed. “Moreover, Flagsol’s great expertise in the development and management of solar power plants will be maintained through the sale to Ferrostaal.”


Contact for creditors:
Solar Millennium AG
Phone: +49 9131 9409-0

Presscontact:
presse@schubra.de, Phone: +49 179 1009080
Additional information:
  • 2013-03-14 Additional Millions for Solar Millennium Creditors
  • 2012-11-20 Continuation of Arenales solar power plant project secured
  • 2012-07-12 Solar Millennium: Insolvency administrator sells Andasol shares
  • 2012-03-26 Solar Millennium: insolvency administrator installs new management for US companies
  • 2012-03-21 Solar Millennium: the search for investors for the US business continues
  • 2012-02-28 Solar Millennium: Insolvency proceedings initiated
  • 2012-02-03 Solar Millennium: Investor acquires US project business
  • 2012-01-05 Solar Millennium: Selling process has started
Schultze & Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH
http://www.schubra.de, Email: mail@schubra.de