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06 Sep
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APPROVED THE SALE OF Q.CELLS SE TO Hanwha Group

Sep 06, 2012
The insolvent Q-Cells SE was sold to the South Korean Hanwha Group. The decision was made by a large majority at the meeting of creditors held on the day of Wednesday, August 29, 2012.


The two companies have long collaborated in the production of photovoltaic modules. Part of the agreement provides that employees Hanwha maintains approximately 1,250 of the 1,550 employees of Q-Cells and ensure the production site in Bitterfeld in eastern Germany. The sale price is still covered by secrecy, but Hanwha will pay part of the debts of the German company, in addition to payment of an amount in the order of 50 million euro.

The sales contract had already been signed over the weekend by the receiver for Q-Cells, but just two days ago had come also the offer of the Spanish Isofoton.
The head of the regional government of Saxony-Anhalt, where it has its headquarters Q-Cells, Reiner Haseloff said he was "very pleased" with the decision taken by the creditors. "It is important for the future of the region as a center for the technologies of the future," said the politician.


You can find below the official acquisition by Hanwha of the giant Q.Cells SE.