Picture: Meyer Burger
Swiss photo voltaic producer Meyer Burger has pulled the plug on its US photo voltaic module manufacturing facility in Arizona and laid off almost 300 employees; now, there’s extra dangerous information.
June 2, 2025: On Saturday, Might 31, Meyer Burger introduced that its subsidiaries in Germany have every filed for insolvency proceedings. As we wrote beneath final week, the workers in Hohenstein-Ernstthal in Saxony and Bitterfeld-Wolfen in Decrease Saxony have been furloughed final 12 months, however they’ve now been laid off.
Meyer Burger Germany in Hohenstein-Ernstthal employs 289 folks in mechanical engineering and know-how growth. Meyer Burger Industries’ photo voltaic cell manufacturing facility in Bitterfeld-Wolfen employs 331 folks.
Subsidiary Meyer Burger (Switzerland) AG, which employs round 60 folks in Thun, will stay in operation. Meyer Burger (Americas) Ltd. can even stay an organization.
As a consequence of ongoing financing discussions on restructuring, the corporate has requested an extension of the deadline for presenting its 2024 monetary outcomes, which expires at the moment.
Might 30, 2025: On Might 29, all 282 remaining workers on the Goodyear, Arizona, manufacturing facility obtained termination notices, and operations have been shut down instantly. The location was nonetheless in its ramp-up part and had a deliberate annual manufacturing capability of 1.4 gigawatts. Meyer Burger had simply began assembling photo voltaic cells imported from its manufacturing facility in Germany.
The corporate says it’s been pressured to close down the US plant on account of a scarcity of funding. The way forward for the Goodyear facility is now unsure.
Meyer Burger is at present in talks with bondholders because it tries to restructure debt tied to 2 convertible bonds that mature in 2027 and 2029. These bonds have been issued by its subsidiary MBT Techniques GmbH and assured by the mum or dad firm.
It’s unclear what this implies for Meyer Burger’s factories in jap Germany, an organization spokesperson instructed German press company dpa. Round 300 workers at every website, in Hohenstein-Ernstthal in Saxony and Bitterfeld-Wolfen in Decrease Saxony, have been furloughed final 12 months.
Meyer Burger has struggled for just a few years, in no small half on account of competitors from cheaper Chinese language photo voltaic imports. In 2024, it reduce round 20% of its 1,000-person workforce, even because it moved forward with US growth plans. In December, the corporate secured almost $40 million in bridge financing from collectors to maintain issues afloat, however that cash seems to have run dry.
Meyer Burger says it’ll share extra data because it turns into out there.
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