SolarWorld loses US damages case in first instance
A single judge granted supplier Hemlock Semiconductor Corp's claim for damages amounting to 585 million US dollars plus interests of 208 million US dollars in the litigation with SolarWorld, says SolarWorld in an ad-hoc announcement. “In spite of this judgment in the first instance, SolarWorld AG continues to assume that Hemlock will not be able to enforce any claims in Germany,” the company says, adding that it will appeal the US court decision. The news agency Reuters writes that SolarWorld had warned in its annual report that a judicial sentencing to pay the demanded sum would threaten the continued existence of the company.
Find Solarword’s ad-hoc announcement from 27 July 2016 in English here.
Read SolarWorld’s annual report 2015 (relevant p. 76) in English here.