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Systaic in talks with financial investor: CEO

DUESSELDORF, Germany (Reuters) - German solar player Systaic is actively looking for investor support, its CEO said, after delayed payments for solar parks had caused it to drastically lower its full-year outlook earlier this month. "We are in detailed talks with a financial investor,"...

DUESSELDORF Germany (Reuters) - German solar player Systaic is actively looking for investor support, its CEO said, after delayed payments for solar parks had caused it to drastically lower its full-year outlook earlier this month. "We are in detailed talks with a financial investor," Michael Viktor Kamp, the company's founder who took over as Systaic's chief executive about two weeks ago, told Reuters in an interview.

Systaic had to lower its full-year sales outlook to 25-35 million euros ($32-44 million) from a previous guidance of 250-260 million euros, and now expects a net loss for 2010.

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