Swiss solar panel manufacturer Meyer Burger Technology has announced that its German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have commenced insolvency proceedings.
The move comes amidst unsuccessful restructuring efforts to maintain operations at the facilities located in the cities of Bitterfeld-Wolfen and Hohenstein-Ernstthal.
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The Bitterfeld-Wolfen facility in Saxony-Anhalt employs 331 people in solar cell production. The Hohenstein-Ernstthal in Saxony employs 289 people in mechanical engineering and technology development.
Efforts to keep the German facilities operational will continue as part of the insolvency proceedings, in collaboration with a provisional insolvency administrator to be appointed by the court.
This development follows a request by the company, based in Thun, Switzerland, for an extension to present its financial results for 2024, against the backdrop of ongoing financing talks aimed at restructuring.
Subsidiaries in Switzerland and the US will be retained.
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By GlobalDataMeyer Burger (Switzerland), with 60 employees, will continue its activities, while Meyer Burger (Americas) will exist as a company although it laid off all 282 employees on 29 May 2025 and halted production at its Goodyear, Arizona facility.
Solar module production at the Goodyear facility was halted due to funding issues and raw material shortages.
The closure of US production, which had an annual capacity of 1.4GW, casts uncertainty on the future of the site.
Meyer Burger is still in discussions with an ad hoc group of bondholders regarding the restructuring.
This impacts two convertible bonds issued by MBT Systems, guaranteed by Meyer Burger Technology and due in 2027 and 2029.
In 2024, Meyer Burger decided to close its solar module production in Freiberg, Germany, from March 2024 in a bid to avoid more losses in Europe.
