Reuters: Bankruptcy News: Several investors eye Q-Cells - insolvency admin

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Several investors eye Q-Cells - insolvency admin Apr 23rd 2012, 10:37 Mon Apr 23, 2012 6:37am EDT * Parties include domestic, foreign investors * Deloitte assigned to look for investors * Shares in Q-Cells rise more than 12 percent FRANKFURT, April 23 (Reuters) - Several parties have shown interest in German solar company Q-Cells since it filed for insolvency earlier this month, including domestic and foreign investors, an administrator said on Monday. "Our goal is to save most of the company and as many jobs as possible," preliminary insolvency administrator Henning Schorisch said in a statement, noting financial and strategic investors were among the parties but not giving further details. "The coming weeks will now show how big interest is," he said. Schorisch, who intends to sell the company to either one or several investors, has hired Deloitte to look for interested parties. Shares in Q-Cells, once the world's largest maker of solar cells, were up more than 12 percent. The company, which employs about 2,300 people, became the most prominent victim so far in an industry shake-out that has already claimed some of its rivals in Germany and the United States, including Solon, Solar Millennium and Solyndra. Schorisch also said that production of solar modules at Q-Cells had partly resumed. "Understandably, Q-Cells' staff is worried by the insolvency proceedings, but it is highly motivated," he said. (Reporting by Christoph Steitz; Editing by Helen Massy-Beresford) Link this Share this Digg this Email Reprints

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