Insolvent German solar company Conergy AG (CGYK.XE) said Friday it plans to sell its sales organization and brand name to U.S.-based investor Kawa Capital Management Inc.

The two companies have signed a letter of intent on the sale of most of Conergy's global sales units and associated administrative, management and infrastructure functions to Kawa.

Conergy's units that make solar modules and mounting systems aren't part of the deal.

"For mounting systems we are already in promising talks with potential investors," said preliminary insolvency administrator Sven-Holger Undritz of law firm White & Case. "I am confident that we will very soon find a solution for the two subsidiaries."

The solar modules factory in Frankfurt an der Oder, eastern Germany , is set to resume production Monday. Production at the facility, which has around 320 employees, was halted during the insolvency application earlier this month. At Conergy Mounting System, production continues at an unchanged, high utilization rate.
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