Jul 19, 2013 - German solar firm Conergy AG (ETR:CGYK) said Friday it will resume production at its plant in Frankfurt (Oder) on Monday after a US investor agreed to buy its sales operations.
Production at the facility, which employs 320 workers, was suspended on July 5, when the company filed for insolvency. Delivery of solar panels and equipment would also resume on Monday.
The break was necessary to clear various legal issues, managing director Sven K. Starke said, adding that the resumption of production was a positive signal to employees and customers.
Conergy announced on Friday that US private equity firm Kawa Capital would acquire most of its sales operations for an undisclosed sum.
Conergy is the latest victim of the slump in the sector characterised by falling prices and oversupply.
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