Swiss solar firm Meyer Burger ceases operations at German sites
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Swiss solar firm Meyer Burger ceases operations at German sites
Solar cell manufacturer Meyer Burger ceased operations at its sites in Saxony and Saxony-Anhalt on September 1 after failing to find new investors.
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Almost 500 employees, and therefore a large proportion of the workforce in Hohenstein-Ernstthal near Chemnitz and in Bitterfeld-Wolfen, have been made redundant or given notice. The two insolvency administrators Lucas Flöther and Reinhard Klose are still in talks with potential investors, the law firm explained.
“We are open to additional offers from investors and are prepared to enter into negotiations again,” explained Flöther. “However, there are currently no signs of this. The solar industry in Germany and Europe is still in an extremely difficult economic situation.”
In Europe, Chinese solar modules are flooding the market and depressing prices because Chinese manufacturers are denied access to the US market. Meyer Burger had tried to focus on the US market, which is considered much more profitable.
In August 2024, however, the company severely curtailed its expansion plans in the US. The manufacturer cut jobs in Europe. In November, Meyer Burger’s largest customer, the US company Desri (D.E. Shaw Renewable Investment), cancelled its contract, plunging the company into crisis. At the end of May, Meyer Burger filed for insolvency for its German subsidiaries.
Translated from German by DeepL/jdp
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