The solar manufacturer Meyer Burger, which is also active in Saxony and Saxony-Anhalt, is discontinuing its solar module production in the USA. The company was forced to stop its solar module production in the USA, which was still in the ramp-up phase, due to a lack of financial resources, it announced in Thun, Switzerland. The 282 employees have been made redundant. "The future of the site is open," it added.
The production facility in the US state of Arizona has only just been set up with solar cells manufactured in Germany. According to Meyer Burger, the company is currently in restructuring talks with bondholders. Two convertible bonds maturing in 2027 and 2029 are affected.
The company has been in difficulties for several years, partly due to cheap competition from China. In the fall, Meyer Burger had already announced a reduction of around 20 percent of its then 1,000 jobs, possibly also in Germany. At that time, however, it was still assuming that the US site would be built up. In December, the company announced that creditors had agreed to bridge financing of almost 40 million dollars.
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