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Follow on Google News | Anti-dumping tariffs on PV-modules: Banks call loans with solar pioneer Gehrlicher Solar AGDornach n. Munich, Germany. Gehrlicher Solar AG (GSAG), one of the oldest companies in the solar industry, filed for preliminary reorganization proceedings at the District Court of Munich on July, 5th. The court appointed Oliver Schartl from the Munich based lawfirm Müller- The filing was an immediate and direct response to the announcement by the banking consortium to terminate the EUR 85 million loan. With the EU-wide introduction of anti-dumping tariffs on Chinese modules and the resulting deterioration of market conditions in Europe, the company is no longer able to fulfill its business plan upon which the 2-year loan agreement extension had been signed just three months ago. The independent subsidiaries of Gehrlicher Solar AG, particularly Gehrlicher Solar America Corporation (GSAC), are not directly affected by the parent’ "We have been working for the energy revolution since 1994, long before the term came into fashion, because we have always believed in the potential of photovoltaics" The Gehrlicher Group has grown from a one-man company to become one of the world's largest project developers and system integrators in the photovoltaic industry. At its peak, the group had over 400 employees and achieved global sales of nearly 350 million euros (2010), remaining family owned. Management Board Member and COO, Richard von Hehn, urges politicians to act quickly in the trade dispute with China. "Anti-dumping tariffs on modules do not help anyone, not even those who request them, because they destroy jobs throughout the whole PV value chain," says von Hehn. "Federal Government and the European Commission must take action and solve the issue at the political level before the summer break, otherwise further damage to the industry will result." The preliminary administrator Oliver Schartl, of the Munich-based lawfirm Müller- Furthermore, Dr. Stefan Parhofer, Management Board Member of GSAG and CEO of Gehrlicher Solar America Corporation, is also optimistic: "We operate completely independent of the German organization and are therefore not directly affected by the parent’ About Gehrlicher Solar AG Gehrlicher Solar AG is an internationally operating photovoltaics company based in Germany with subsidiaries and joint ventures in Brazil, the Czech Republic, France, Great Britain, India, Italy, Romania, Spain, South Africa, Turkey and the USA. The company, which was founded in 1994, develops, plans, builds, finances, and operates solar power systems to be mounted on the ground and on roofs – from private homes to multi-megawatt systems. In addition, it distributes solar modules and inverters as well as components from its own GehrTec® About Müller- The law firm Müller- Media contact at Gehrlicher Solar AG Stephanie Seifried • Marketing Department Max-Planck-Str. 3 • 85609 Dornach near Munich (Germany) Phone: +49 89 420792-183 • Fax: +49 89 420792-8170 E-Mail: stephanie.seifried@ Internet: www.gehrlicher.com (https://comgate.gehrlicher.com/ Press Contact MHBK Nicole Huss Kanzlei Müller- Tel.: 089/130 125 22 Fax: 089/130 125 86 Mobil: 0172/84 88 928 Mail: presse@mhbk.de (https://comgate.gehrlicher.com/ End
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