Introduction
Meyer Burger Technology AG, a Swiss company in the solar sector, has filed for insolvency for its German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH. This decision has significant implications for employees, investors, and the solar sector in Germany.
Background and Reasons
The insolvency was filed as part of ongoing restructuring negotiations after intensive efforts to save the sites proved unsuccessful. The negotiations will now continue within the framework of the insolvency proceedings, supported by a court-appointed preliminary insolvency administrator.
Affected Sites and Employees
- Meyer Burger Industries in Thalheim (city of Bitterfeld-Wolfen): Here, 331 employees are engaged in solar cell production, who have been on short-time work since May.
- Meyer Burger Germany in Hohenstein-Ernstthal: This branch employs 289 individuals in mechanical engineering and technology development, who have already been on short-time work since last year.
Consequences for Investors and the Solar Sector
The insolvency of the German subsidiaries could significantly impact the investor relations and market position of Meyer Burger Technology AG. Investors may lose confidence in the company, which could negatively affect stock prices. Moreover, the insolvency could influence competition in the solar sector in Germany, as Meyer Burger is a significant player in this field.
Further Developments
- Meyer Burger (Switzerland) AG remains operational and employs about 60 staff in Thun.
- Meyer Burger (Americas) Ltd. has laid off all employees but remains as a company.
- Meyer Burger has requested an extension of the deadline for the publication of the 2024 annual report, as the original deadline ends on May 31, 2025.
Outlook
The insolvency of the German subsidiaries marks a critical point in the history of Meyer Burger Technology AG. The future development of the company strongly depends on the outcomes of the insolvency proceedings and the ability to successfully continue the remaining business activities.