The Swiss solar company Meyer Burger, which also operates several sites in Germany, has filed for bankruptcy protection in the USA. According to court documents, the company filed a corresponding application under Chapter 11 with the insolvency court in Delaware.
According to the documents, the aim is to comprehensively restructure the company. A company spokeswoman confirmed that the aim is to restructure the company. It is not a question of liquidation.
The German subsidiaries have also been in provisional insolvency proceedings since the beginning of the month.
Locations in Germany should contribute to the ramp-up in the USA
Meyer Burger had already stopped the production of solar modules in the USA some time ago. According to the company, 282 employees were made redundant. The company has been in difficulties for several years, partly due to cheaper competition from China.
The company originally wanted to expand its solar module production in the USA. Solar cells from Bitterfeld-Wolfen (Saxony-Anhalt) were also to be exported to the USA for this purpose.
According to court documents, the estimated liabilities in the USA are between 500 million and one billion US dollars. The estimated assets, on the other hand, are 100 - 500 million US dollars.
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