The Management Board of RALOS New Energies AG hasrecently (February 29, 2012) filed for insolvency proceedings at the district court in Darmstadt.
In spite of successfully implemented operative reorganization measures a solution could unfortunately not be realized for the existing financial situation. This also against the background of the expected changes within the legal conditions in Germany and the expected implications to the sales strategy.
The Management Board and the Supervisory Board very much regret for our shareholders, employees and suppliers that this consequence could not be avoided although there was a great mutual agreement for the measurements which have to be taken for a successful financial future.The subsidiaries RALOS Projects GmbH and RALOS Solar GmbH are also concerned.
