SolarWorld reaches supplier deal

SolarWorld has reached an agreement with one of its long-term raw material suppliers to continue its existing supply relationships, which will burden the embattled German PV company’s result by a double-digit euro amount.

“The agreement requires a revaluation of prepayments and/or repayment claims from the long-term supply contracts in the balance sheet,” SolarWorld explains in an ad-hoc announcement to stock markets.

On the other hand, the agreement results in short- and medium-term a positive liquidity effect for SolarWorld, the company says.

The agreement also secures SolarWorld's supply of important raw materials.