A revision request has now been received by the appropriate court in Michigan. SolarWorld has meanwhile filled further protective letters against Hemlock to various courts in Germany, as a precaution to prevent possible enforcement of any penalty in Germany. SolarWorld CEO Frank Asbeck is confident that the U.S. silicon manufacturer will not receive recognition of any judgements in German courts.
The German PV manufacturer recorded significant growth in the company’s sales and revenues compared to the same period last year, while also returning to a positive operating result, although it had to revise down its preliminary results.
Solarworld CEO Frank Asbeck talks to pv magazine on the recent finding against the company in its legal dispute with Hemlock Semiconductor. A supremely confident Asbeck explains why he doesn’t think the judge’s decision changes the case at hand, while still expecting a settlement with Hemlock, and why any final decision will not affect the company’s American subsidiary nor the German company.
SolarWorld has increased its Q2 2016 shipments 39% YoY, to 342 MW, in 2016. Revenues increased almost 30% for the quarter, to €222 million ($246 million), while achieving an EBIT profit of €20.5 ($22.7 million) million.
A U.S. court has granted Hemlock’s hefty claim against the leading solar PV company, which remains confident that enforcement of the lawusuit will fail in Germany.
SolarWorld could face bankruptcy as a result of its polysilicon supply dispute with Hemlock. The U.S. polysilicon supplier is claiming up to $793.5 million in damages, in court documents acquired by Reuters today.
IHS Senior Research Director Ash Sharma spoke to pv magazine to give his take on the SolarWorld and Hemlock Semiconductor initial ruling last week, and how the two companies are likely to proceed from here, expecting that SolarWorld is feeling the pressure to come to an agreement quickly.
The U.S. court adjudicating on the legal dispute between SolarWorld subsidiary Deutsche Solar and Hemlock Semiconductor has granted a motion for a summary judgment, dismissing SolarWorld’s submission for the case to be heard by a jury. The dispute stems from three multi-year polysilicon supply deals negotiated and signed between 2005 and 2007. SolarWorld argues that it is not beholden to these supply deals as they were subsequently amended by the two parties.
The court document from the dramatic initial ruling in the SolarWorld and Hemlock Semiconductor polysilicon dispute reveals that Hemlock was willing to negotiate amendments to the polysilicon Supply Agreements with SolarWorld subsidiary Deutsche Solar, if the German company assisted in resolving a dispute “between the US and China over the exchange of solar-industry products.”
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