Aid-related proceedings are yet to be initiated by the Commission.
Swiss Solar Manufacturer Meyer Burger Files for Insolvency at Three German Subsidiaries
Thun, Switzerland - After years of financial struggles and recent short-time work, Meyer Burger Industries GmbH and Meyer Burger Germany GmbH, two of the company's German subsidiaries, have initiated insolvency proceedings. These subsidiaries, employing approximately 600 people in total, are situated in Bitterfeld-Wolfen (Saxony-Anhalt) and Hohenstein-Ernstthal (Saxony).
The facility in Bitterfeld-Wolfen, where 331 people are engaged in solar cell production, and the one in Hohenstein-Ernstthal, where 289 employees are dedicated to mechanical engineering and technology development, will continue in the process with a court-appointed preliminary insolvency administrator.
The company's struggles are attributed to intense competition in the solar panel market, exacerbated by low-cost Asian imports. Despite these insolvency proceedings, Meyer Burger's global operations, including its subsidiaries in Switzerland and the USA, are not affected.
Originally planned to present its 2024 annual report by May 31, the company has requested an extension due to ongoing financing negotiations for restructuring. Efforts to maintain the locations are ongoing, with the aim of preserving operations at these sites.
Meyer Burger's solar module production in Arizona, which was slated to use solar cells from Germany, was recently shut down. The company remains in discussions with bondholders regarding restructuring.
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The insolvency proceedings initiated by Meyer Burger Industries GmbH and Meyer Burger Germany GmbH, two subsidiaries of the Swiss solar manufacturer, have affected approximately 600 employees in Germany, with implications for the solar cell production industry and the energy sector. Despite these developments, the company's global operations, including its subsidiaries in Switzerland and the USA, continue to be operational.
