US EditionBorosil Renewables German Arm Files for Insolvency
- Borosil Renewables announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code on July 4, 2025, due to deteriorating market conditions.
- The subsidiary generated financial losses of approximately Rs 9 crore per month, which Borosil will no longer account for after the filing.
- Chairman P Kheruka stated that the decision reflects confidence in India's solar manufacturing sector, where demand and policies are improving.
- GMB's operations will now be managed by a court-appointed administrator in Germany, following the insolvency filing.
20 Articles
20 Articles
The solar market is crisising. Now it hits another company: the solar glass producer Glasmanufaktur Brandenburg (GMB) is insolvent.
In the end, Glasmanufaktur Brandenburg was against the superiority of subsidised goods from China without opportunity. After a decade and a half, GMB has to give up.
The Hindu Business Line
pv magazine IndiaBorosil Renewables’ German arm files for insolvency
Borosil Renewables on Monday announced that its German subsidiary GMB Glasmanufaktur Brandenburg GmbH has filed for insolvency under German Insolvency Code (InsO) before the jurisdictional court at Cottbus.
Borosil Renewables German arm files for insolvency
Borosil Pivots Focus: German Subsidiary Files for Insolvency Amidst Solar Turmoil
Borosil Renewables' German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency. Market pressures and competition from low-cost Chinese solar modules led to this decision. Borosil is now focusing on the Indian solar sector, aiming for growth and development in a promising market environment.
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