By Kari Williamson

The transaction consists of Evergreen Solar's core wafer business, including all intellectual properties.

The notification to the Securities and Exchange Commission also announced the termination of the contracts for CEO Michael El-Hillow, and the company's CFO, Chief Strategy Officer, CTO, and the President and General Manager of Asia operations.

Christian M. Ehrbar has been appointed new CEO and Paul Kawe is now CFO.