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Energy Conversion files for bankruptcy protection

Tue, 02/14/2012 - 6:24am
Reuters

(Reuters) - Energy Conversion Devices Inc, which makes lightweight solar products, filed for bankruptcy protection on Tuesday after months of discussions with bondholders.

The company said it would sell its United Solar Ovonic unit and other assets in bankruptcy. The sale plan has the support of some creditors, it said.

Energy Conversion, whose products are used for rooftops and buildings, has not posted a profit since 2009. Last year it cut production drastically after European demand dropped off.

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