On December 13, 2011, a European PV manufacturer SOLON SE filed an application for the opening of insolvency proceedings.

In the past few months, SOLON SE had engaged in intensive efforts to carry out a financial restructuring. It held talks with investors, the financing banks and the guarantors, but the negotiations on an amicable solution failed. SOLON SE will now use the opportunities for a restructuring within the insolvency proceedings.

An application for the opening of insolvency proceedings was subsequently filed for the following subsidiaries: SOLON Photovoltaik GmbH, SOLON Nord GmbH and SOLON Investments GmbH.