SOLON SE filed an application for the opening of insolvency proceedings, following "intensive efforts" on a financial restructuring. SOLON produces solar modules for rooftop and terrestrial PV installations.

December 15, 2011 -- SOLON SE filed an application for the opening of insolvency proceedings, following "intensive efforts" on a financial restructuring. SOLON produces solar modules for rooftop and terrestrial PV installations.

SOLON held talks with investors, the financing banks and the guarantors, but was not able to settle on an amicable solution for all involved parties.

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.

One year ago, SOLON SE sold its Swiss subsidiary SOLON Inverters AG to Delta Energy Systems (Germany) GmbH, saying the business no longer fit with SOLON's strategy.

SOLON SE is one of Europe's largest solar module producers and a provider of solar systems technology for large-scale rooftop and free-field installations. Learn more at www.solon.com