French govt set to back ailing Photowatt - report

Jan 3, 2012 - The French government may rescue solar modules maker Photowatt International, placed under receivership in November.
In an interview for TV channel BFM-TV, Ecology Minister Nathalie Kosciusko-Morizet said that the authorities are looking for a solution to Photowatt's problems, adding that the government is willing to help the troubled firm. However, the ownership of the company's patents are posing problems. The government is willing to invest money of the French taxpayers, which will be for the benefit of the French people, she explained.
Asked by news agency AFP, Photowatt confirmed that talks with the authorities are underway.
Set up in 2007, Photowatt has 442 employees.

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