Meyer Burger’s 2 German subsidiaries file for insolvency after restructuring failed to secure their long-term future
The move impacts over 600 jobs at its Thalheim and Hohenstein-Ernstthal sites amid financial strain
The company has already shut down its US solar module production facility while it seeks an extension for the submission of 2024 financials
European solar PV manufacturer Meyer Burger Technology AG has filed for insolvency for its German subsidiaries following hitherto unsuccessful restructuring talks. The move impacts over 600 workers at its 2 sites as the company faces ongoing financial strain and market pressure from cheaper imports.
Separate insolvency proceedings were filed by the group’s Meyer Burger (Industries) GmbH, which manages the solar cell production facility in Thalheim (Bitterfeld-Wolfen) that employs 331 people, and Meyer Burger (Germany) GmbH that employs 289 people in mechanical engineering and technology development in Hohenstein-Ernstthal. It had already introduced short-time work at the Thalheim factory to save costs (see Europe Solar PV News Snippets: PGE Polska Secures PLN 2.25 Billion EIB Backing For RE & More).
“During the ongoing restructuring negotiations, intensive efforts were made to preserve the locations. These efforts have so far been unsuccessful and will now be continued as part of the proceedings together with a court-appointed provisional insolvency administrator,” stated the management.
Meyer Burger entered restructuring in September 2024 as it announced the departure of its CEO Gunter Erfurt and CFO Markus Nikles (see Gunter Erfurt Leaves Meyer Burger As Company Initiates Restructuring).
Meanwhile, another group subsidiary, Meyer Burger (Switzerland) AG, with close to 60 employees in Thun, Switzerland, will continue its operations.
Meyer Burger (Americas) Ltd. will remain as a company. The management shut down its solar module production operations of this subsidiary in Arizona, US with immediate effect last month due to lack of funds (see Meyer Burger Shuts Down US Solar Module Factory).
The manufacturer is now seeking an extension for the submission of its 2024 financials that were due to be released on May 31, 2025. As per its preliminary financial results, the company achieved around CHF 69.6 million ($85.1 million) in sales in 2024, with a negative EBITDA of CHF 210.4 million ($257.2 million).