Information about Neabgruppen

One of Soltech Energy Sweden AB’s subsidiaries, Neabgruppen AB’s (Neabgruppen) board has today, October 14, filed for bankruptcy for Neabgruppen’s companies. Soltech Energy comments on the announcement.

The overall assessment that is the basis for filing for bankruptcies is that Neabgruppen will be financially insolvent for a long time to come and it is not responsible to continue the business under these conditions.

– Soltech has worked actively for a year to try to lift the negative financial situation in Neabgruppen. Various activities have been carried out, including large capital injections and personnel resources in finance and management. Unfortunately, the company’s negative trend has not been reversed. Soltech as a group cannot responsibly continue to add capital and resources as we do not see a financially sustainable future, comments CEO Stefan Ölander.

The bankruptcy trustee who is appointed decides from today how the business will be conducted during the bankruptcy and how the day-to-day operations will look like.

– That decision is of course very sad and and something we regret. I want to thank Neab’s employees who has struggled alongside us to overcome the problems. Of course, we learn from this and continue to work hard to build a strong and sustainable group with good profitability, which today’s decision will contribute to. We are now handing over the day to day business and decisions to the bankruptcy trustee, concludes Stefan Ölander.

For more information contact:

Stefan Ölander, CEO, Soltech Energy

Mail: stefan.olander@soltechenergy.com

Phone: 070-739 80 00