Meyer Burger facing imminent closure
In a significant turn of events, Swiss solar panel manufacturer Meyer Burger has announced that it is shedding its US assets in a bid to stay afloat. The company, which has been struggling with cheap imports from China and uncertainties regarding the future promotion of renewable energies, has received court approval for the sale of its module production facilities to Waaree Solar Americas and the sale of solar cells to Babacomari Solar North.
The sales, however, are an interim step and do not guarantee the survival of the entire corporate group. The Swiss firm has also announced that there is no realistic chance of saving the entire corporate group. This unfortunate news comes after Meyer Burger reported an operating loss (Ebitda) of 210.4 million francs in 2024 with a turnover of just over 70 million francs.
The insolvency application was filed for Meyer Burger in Germany at the end of May and in the USA at the end of June. As a result, the company has laid off approximately 665 employees in Germany and Switzerland. Notably, the large customer of Meyer Burger, D.E. Shaw Renewable Investments, terminated its contract with the company in November.
The sales do not include the entire corporate group but rather the module production facilities and solar cells. The total value of the sales in the USA is approximately $29 million, with the main production equipment sold for $28.7 million, far below the company's $500 million to $1 billion liabilities. This significant insolvency and asset liquidation in the US mark a challenging period for the solar panel manufacturer.
Despite these setbacks, Meyer Burger continues to face challenges in Europe and other locations, where it is grappling with cheap imports from China and uncertainties regarding the future promotion of renewable energies. The company's US subsidiary filed for bankruptcy in late June 2025, and these sales represent a crucial step towards restructuring and potentially securing a future for the company.
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