Aid-related proceedings have not been instigated by the Commission, as a decision is pending.
Rewrapped: Time for a New Dawn - Meyer Burger's German Subsidiaries Enter Insolvency
After a string of tough times and recent short-time work arrangements, the German branches of the Swiss solar power heavyweight, Meyer Burger, which employ approximately 600 workers, have taken the plunge and filed for insolvency.
The solar cell production base in Bitterfeld-Wolfen, Saxony-Anhalt, houses 331 employees, while 289 team members work at Hohenstein-Ernstthal, Saxony, on mechanical engineering and technological innovation for Meyer Burger Germany.
So far, efforts to reorganize and keep these sites afloat have been unsuccessful, as the Swiss-based parent company revealed. "From here on out, these efforts will carry on within the context of the insolvency proceedings, under the watchful eye of a court-appointed provisional administrator," the company declared.
Originally, Meyer Burger was due to release its 2024 business figures by May 31. However, given the ongoing discussions about financing structure adjustments, the company has applied for more time to make an announcement.
Notably, the Swiss and American subsidiaries remain untouched by these developments. Just a few days ago, solar module production in Arizona, which was set to utilize solar cells produced in Germany, was shut down.
For a clearer understanding, here's what's at stake:
- Insolvency Procedure: Both German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, have entered insolvency proceedings following unsuccessful restructuring negotiations. The insolvency proceedings will be managed by a provisional court-appointed administrator[1][3][5].
- Employees and Ongoing Operations: The solar cell manufacturing site in Thalheim, Bitterfeld-Wolfen maintains 331 jobs, while 289 employees work at the mechanical engineering and technology development site in Hohenstein-Ernstthal[1][3]. Despite the insolvency, Meyer Burger aims to keep operations running at these sites through strategic measures within the insolvency framework[1][3].
- Global Impact: The insolvency filings by the German subsidiaries have not affected Meyer Burger's global operations outside of Germany. The Swiss subsidiary continues to operate as usual, while the US subsidiary let go of all employees, but remains a legal entity[1][2][3].
- Challenges Ahead: The insolvency filings partially stem from the fierce competition with low-cost Asian imports that have created a difficult environment for the German subsidiaries[2]. Meyer Burger is actively working to keep its German operations running in the midst of these financial troubles[2][5].
The insolvency proceedings for Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, the German subsidiaries of the Swiss solar power company, have been initiated due to unsuccessful restructuring negotiations. The finance sector will closely monitor the insolvency process, as strategic measures are taken to keep the solar cell manufacturing site in Thalheim, Bitterfeld-Wolfen and the mechanical engineering and technology development site in Hohenstein-Ernstthal operational. Despite global impact, the Swiss and American subsidiaries remain unaffected by these developments in the industry and energy sectors.
