Solar-Fabrik AG (XTRA:SFX) signed a purchase agreement to acquire fab 2 in Wismar from Centrosolar Sonnenstromfabrik GmbH on July 8, 2014. Centrosolar Sonnenstromfabrik is in insolvency. Ralf Hennigs, Managing Director of Sonnenstromfabrik, will join Solar-Fabrik.

All 143 employees of fab 2 will be retained. The transaction is expected to close on August 1, 2014. Gideon Boehm is acting as insolvency administrator for Centrosolar Sonnenstromfabrik.

Ernst & Young GmbH acted as the accountant to Solar-Fabrik AG. KPMG acted as financial advisor for Centrosolar.