Conergy

Type
Internal restructuring
Country
Germany
Region
Hamburg; Hamburg; Hamburg
Location of affected unit(s)
Hamburg
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.1 - Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
27.11 - Manufacture of electric motors, generators and transformers
140 jobs
Number of planned job losses
Job loss
Announcement Date
26 September 2013
Employment effect (start)
26 September 2013
Foreseen end date

Description

As announced on September 26, 2013, US-based capital Investor Kawa Capital Management will acquire parts of German solar energy company Conergy and will make 140 people redundant.

Conergy will file for insolvency on October 1st. In total, the company employs 280 people in Germany. The job cuts mainly affect administration in Hamburg.

For previous restructuring cases see Conergy (2011), Conergy (2007 - World) and Conergy (2007).

Sources

  • 26 September 2013: Lübecker Nachrichten (online)
  • 26 September 2013: Conergy (Press release)

Citation

Eurofound (2013), Conergy, Internal restructuring in Germany, factsheet number 75953, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75953.