EANS-News: centrotherm photovoltaics submits reorganization concept to court as planned - Creditors to decide on approval after examination

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Company Information

Blaubeuren (euro adhoc) - Blaubeuren, October 12, 2012 - centrotherm
photovoltaics AG today submitted its reorganization and future
concept as planned to the District Court of Ulm. The concept is
decisive for the future of the Group. After being examined by the
court, the insolvency plan will be presented to creditors in the next
step, who will then decide on whether to accept it in a separate
discussion and voting meeting.

"Our aim is maintain centrotherm as an independent company based on
this plan and to guide it towards a successful future. Ultimately
this would benefit everyone involved in the process," says the
company's own administrator Tobias Hoefer.

If the plan, which aims for the highest possible satisfaction of
creditors, is then accepted by the creditors and confirmed by the
court, the 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 on
a fully independent basis.

The same applies for the subsidiaries centrotherm thermal solutions
GmbH & Co. KG and centrotherm SiTec GmbH, which are currently engaged
in their own proceedings and for whom insolvency plans have also been
submitted to the court on time.

Insolvency creditors of the named companies are able to register
their receivables to the court-appointed administrator by November 5
in order that they participate in the continued process and are able
to decide on the approval of the insolvency plans. The court has
appointed the lawyer Prof. Dr. Martin Hörmann from the anchor
Rechtsanwälte legal firm, Ulm, as centrotherm photovoltaics AG's
administrator. The lawyer Alexander Reus, also from anchor
Rechtsanwälte, has been appointed administrator for the subsidiaries
centrotherm thermal solutions GmbH & Co. KG and centrotherm SiTec
GmbH.

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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company: 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