EANS-Adhoc: Significant progress in reorganization of centrotherm photovoltaics AG:

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Company Information

01.10.2012

- Court grants application to open reorganization proceedings under
the company's own administration - Lawyer Prof. Martin Hörmann
appointed administrator

Blaubeuren, October 1, 2012 - The reorganization of centrotherm
photovoltaics AG has entered a decisive phase: the District Court of
Ulm has today granted the company's application to open
reorganization proceedings under its own administration. The same
also applies for the subsidiaries centrotherm thermal solutions GmbH
& Co. KG and centrotherm SiTec GmbH, which have also been in
insolvency protection proceedings since July 12. The provisional
creditor committee had provided unanimous support to the application.
As a consequence, centrotherm photovoltaics AG can restructure itself
independently on the basis of the reorganization and future concept
coordinated with creditors, and regulated by a court-appointed
administrator. The court determined that Prof. Martin Hörmann from
the Anchor legal firm, who has already functioned as provisional
administrator to date, should be the administrator for centrotherm
photovoltaics AG. Lawyer Alexander Reus of the Anchor legal firm, who
has also acted as provisional administrator to date, was appointed to
be the administrator for the subsidiaries centrotherm thermal
solutions GmbH & Co. KG and centrotherm SiTec GmbH.

The company's own administrator Tobias Hoefer welcomed the court's
decision. "This sets an important signal for the future of
centrotherm photovoltaics AG. Following the successful conclusion of
insolvency protection proceedings which this documents, we can now
make preparations for the further course of the reorganization
process."

The next step in the reorganization process is to submit the
reorganization and future concept, which has been developed in
coordination with the main creditor groups, to the District Court of
Ulm by October 12, 2012. If the plan, which aims for the highest
possible satisfaction of creditors, is then accepted by the
creditors, and confirmed by the court, the insolvency proceedings can
be terminated in line with the regulations of the German Act Relating
to the Further Simplification of the Reorganization of Companies
(ESUG), and the German Insolvency Directive (InsO). centrotherm
photovoltaics AG could then operate again on a solid basis on the
market as a reorganized company, and fully independently.

Irrespective of this, the full scope of business continues at
centrotherm photovoltaics AG and the aforementioned subsidiaries. New
orders have been received during the insolvency protection phase, and
customers, suppliers and creditors have supported the reorganization
measures. Liquidity has also developed better than planned as a
consequence. The Group currently commands a liquidity position of
more than EUR 110 million, thereby providing a good financial base
for the implementation of the reorganization plan.

end of ad-hoc-announcement ==========================================
====================================== About centrotherm
photovoltaics AG centrotherm photovoltaics AG, which is based at
Blaubeuren, Germany, is a globally leading technology and equipment
provider for the photovoltaics sector. The company equips well-known
solar companies and new sector entrants with turnkey production lines
and single equipment to manufacture silicon, and crystalline solar
cells and modules. As a consequence, the Group possesses a broad and
well-founded technological basis, as well as key equipment at
practically all steps of the photovoltaics value chain. centrotherm
photovoltaics guarantees its customers important performance
parameters such as production capacity, efficiencies, and completion
deadlines. The Group currently employs around 1,300 staff, and
operates globally in Europe, Asia and the USA. centrotherm
photovoltaics achieved revenue in the 2011 financial year of around
EUR 700 million. The company is listed in the Prime Standard on the
Frankfurt Stock Exchange.

Further inquiry note:
Kontakt:
Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-Mail: saskia.feil@centrotherm.de

Nathalie Albrecht
Manager Public Relations
Tel: +49 7344 918-6304
E-Mail: nathalie.albrecht@centrotherm.de

end of announcement euro adhoc
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issuer: centrotherm photovoltaics AG
Johannes-Schmid-Str. 8
D-89143 Blaubeuren
phone: +49 (0) 7344 91880
mail: info@centrotherm.de
WWW: http://www.centrotherm.de
sector: Energy
ISIN: DE000A0JMMN2
indexes: Prime All Share, GEX, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English