TITLE

Evergreen Solar Prepares for 363 Sale

AUTHOR(S)
NOTO, ANTHONY
PUB. DATE
August 2011
SOURCE
Mergers & Acquisitions Report;8/22/2011, Vol. 24 Issue 34, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
66187369

 

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