Evergreen Solar Prepares for 363 Sale

August 2011
Mergers & Acquisitions Report;8/22/2011, Vol. 24 Issue 34, p6
The article reports on the sale process launched by Marlboro, Massachusetts-based Evergreen Solar Inc. after filing for Chapter 11 bankruptcy protection. According to spokesman Michael McCarthy, Evergreen faces heavy debts. The total assets of Evergreen is 424.5 million U.S. dollars, while its overall debts is 485.6 million U.S. dollars. It cites cheap Chinese labor costs and a decline in solar panel prices as some of the reasons behind the bankruptcy.


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