SolarWorld: Hemlock calls $ 800 million – SPIEGEL ONLINE

the silicon supplier Hemlock had SolarWorld sued in the US – and get right. The now demanded compensation could threaten the survival of the company in Bonn.

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In the dispute over a contract the US company Hemlock calls almost 800 million in damages from the German solar companies SolarWorld. The silicon supplier put his calculations outstanding payments of approximately $ 585 million based – with an annual interest rate of twelve percent, it said in a statement by the competent US court, from the quoted Reuters

This. add up the requirements at $ 793,500,000. Judge Thomas L. Ludington had declared compensation claims from Hemlock justified and prompted the US company to list their demands. His first instance decision is still pending. SolarWorld CEO Frank Asbeck had recently reaffirmed, in case of defeat appeal.

Hemlock SolarWorld subsidiary German Solar sued. Background is a debate about not Removed silicon. In the boom years of the solar industry cell manufacturers were willing to pay almost any price for silicon and signed long-term contracts. In downturn, avenged that.

In the annual report warns SolarWorld that a conviction on payment of the required sum would jeopardize the company’s existence. Asbeck had liquid funds recently estimated at around 183 million euros. 2015 the Group recorded write losses for years, with a turnover of 763 million euros a loss of 33.2 million euros. Had

Judge Ludington’s request Hemlock for an expedited procedure without a jury and another hearing upheld. SolarWorld CEO Asbeck had declared in the spring that he adjusting to a long prosecution. He doubt that if convicted, the enforcement in Germany had to enforce as the contract against European competition law breach. This would give local legal opinion.

asa / Reuters

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