Skip to content

Meyer Burger Solar Company halts production operations in the United States

Advancements in Technology: Meyer Burger's Innovations Highlighted

"FBI Arrests Neo-Nazi Leader for Alleged Terror Plot"
"FBI Arrests Neo-Nazi Leader for Alleged Terror Plot"

Meyer Burger Solar Company halts production operations in the United States

Swiss Solar Tech Firm Meyer Burger Haltes US Production, Cites Financial Woes

Zurich - Struggling Swiss solar technology company Meyer Burger Technology Ltd has ceased production at its facility in Goodyear, Arizona. The move, which affected 282 employees, was announced in a statement issued early Friday.

The company attributed the halt to insufficient financial resources, stating that ongoing negotiations with a group of bondholders regarding a potential restructuring have yet to bear fruit.

The future of the Goodyear site remains uncertain as Meyer Burger continues its negotiations. The 60 employees at the Swiss headquarters in Thun will maintain normal operations.

In Germany, insolvency proceedings have been initiated for Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, following unsuccessful restructuring efforts aimed at saving their Thalheim and Hohenstein-Ernstthal sites, which employ 331 and 289 people, respectively.

Meyer Burger’s decision to cease production at its U.S. site coincides with a request for an extension to present its 2024 financial results, originally slated for May 31, 2025.

Chart

Line chart with 53 data points.Chart für Meyer Burger TechnologyThe chart has 1 X axis displaying Time. Data ranges from 2024-05-27 00:00:00 to 2025-05-30 14:00:00.The chart has 1 Y axis displaying values. Data ranges from 0.3796 to 8.25.Lade...End of interactive chart.

The halts in production at both the German and American facilities mark a significant setback for the renewable energy firm, which has been grappling with financial and operational challenges.

Meyer Burger TechnologySwiss Exchange ·

Data enrichment suggests that Meyer Burger’s German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, are currently undergoing insolvency proceedings. Meanwhile, Meyer Burger (Switzerland) AG in Thun continues normal operations with roughly 60 employees.

The company had earlier requested an extension to present its 2024 financial results, due May 31, 2025.

Despite the halt in production at its Goodyear, Arizona facility due to financial woes, the future of the company's Swiss headquarters remains uncertain as ongoing negotiations with bondholders continue. The renewable energy industry is impacted as the company also faces insolvency proceedings for its German subsidiaries, while simultaneously requesting an extension to present its 2024 financial results.

Read also:

    Latest