German subsidiaries of Swiss solar firm Meyer Burger seek insolvency
Meyer Burger Industries in Bitterfeld-Wolfen in Saxony-Anhalt employs 331 people in solar cell production. Meyer Burger Germany in Hohenstein-Ernstthal in Saxony currently employs 289 people in mechanical engineering and technology development.
Restructuring efforts to keep the sites open have so far been unsuccessful, according to the company based in Thun, Switzerland.
"They will now be continued as part of the proceedings together with a provisional insolvency administrator to be appointed by the court," it said in a statement issued on Saturday.
The company should have presented its financial results for 2024 by Saturday. Against the backdrop of ongoing financing talks for restructuring, the company has requested an extension.
The company's subsidiaries in Switzerland and the United States are to be retained.
Just a few days ago, solar module production in the US state of Arizona, which was still in the start-up phase, was discontinued. Production there aimed to use solar cells manufactured in Germany.
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