Portland — SolarWorld’s German headquarters has discovered additional losses as the company restructures to escape insolvency.
Auditors found “further impairments” for fiscal 2012, according to a news release last week from the company in Bonn. Increased depreciation boosts group losses from 476 million euros, or $654 million, to about 606 million euros, or $833 million, the release said.
“These additional impairments are not cash relevant and neither affect the operative business nor liquid funds of the SolarWorld group,” the release said.
A SolarWorld factory in Hillsboro employs almost 700 who make advanced high-wattage solar cells and modules. The German parent company flirted with insolvency last summer, but bondholders agreed to take a hit as part of a restructuring and debt-for-equity swap.
