TRURO - An Austrian company that has filed for insolvency in that country says the move will not impact plans for a manufacturing plant in Truro.
"Nothing, because it was an act that we were already planning ...," said Rainer Geisler, trustee lawyer and partner with photovoltaic company Hilber Solar, regarding any potential impact the company's recent moves in Austria would have towards its future plans here.
Two tractor-trailer loads of solar panels, valued at $150,000, were delivered to Truro on Wednesday that are to be used as demonstration units and will be set up by Hilber representatives in the near future.
The company plans to set up a manufacturing facility for solar panels in Truro that would serve the North American market.
On Oct. 31, however, the company filed an insolvency application to deal with liabilities of EUR 12,944,000 (approximately $16.6 million Cdn.) because of the elimination of government subsidies for photovoltaic systems in Germany, Italy and Spain and because of a major contract that had been cancelled.
The Truro plant will be operated under the name of Green Technologies Europe Inc., and Geisler said the financing for that endeavour is solid.
"We have Swiss holdings which takes care of our business situations," he said, by telephone while enroute from Switzerland to Vienna on Thursday.
"Everything is very detailed planned so we know exactly what we do."
The cost of the solar panels received by the Town of Truro and their eventual set up is being borne by the company. Geisler said he and other representatives are expected to arrive in the Hubtown within the next few weeks to set up the panels prior to establishing a manufacturing plant, potentially as early as next year.
"It's most important for the coming future," he said of solar power. "And we are still thinking that Town of Truro is a good partner for us to start up in this case of business, which is a green business and a very powerful business in the future."
Truro's business development officer, Rob Turner, said he was surprised to hear of Hilber Solar's insolvency application but after placing calls to both Geisler and company president Michael Dax on Thursday, he was reassured that the plans for Truro are still a go.
"First of all, I'm surprised that they didn't tell us that part of their company was going to experience something like this," Turner said. "But I'm assured by what they told me, that their company is in good shape and they're moving forward with their plans to be in Truro."
hsullivan@trurodaily.com
