Conergy Chief Confident Won’t Join Rising Solar Bankruptcies
This article is for subscribers only.
Conergy AG, a German solar panel maker, said it’s confident it can avoid joining the wave of bankruptcies in the country’s photovoltaic industry.
Conergy has been owned by creditors since July after a debt-to-equity swap and restructuring measures that resulted in “initial positive effects,” Chief Executive Officer Philip Comberg said. The Hamburg-based company expects to generate positive first-quarter net cash flow for the first time since 2005, he said.