Thursday 4 December 2014

SolarMax's parent company Sputnik Engineering bankruptcy spread supply chain

SolarMax's parent company Sputnik Engineering bankruptcy spread supply chain, the German company InTiCa facing € 2.5 million ($ 3.1 million) shortfall in its 2014 figures.

The electrical components of the inverter manufacturer quoted company "unexpected" filed for bankruptcy, has issued a profit warning. The manufacturer said it will no longer be able to achieve its 2014 earnings forecast.



InTiCa said the bankruptcy proceedings until the final determination of the results, in order to accurately calculate the final extent of the damage caused. The company said it is ready to accept an impairment loss and impairment of assets of up to seven hundred and fifty thousand euros, and the remaining 1.8 million euros previously earmarked for Sputnik's unsold inventory.

InTiCa said that given the Sputnik announcement, which is studying the inventory of "alternative internal and external applications."

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