U.S. production halt at Meyer Burger manufacturing facilities.
Meyer Burger Halt US Production, Laying Off Hundreds of Employees
Swiss solar technology company Meyer Burger has announced the discontinuation of its solar module production in the US state of Arizona. The decision follows financial difficulties and lack of funds, resulting in layoffs for 282 employees at the company's US location. The future of the Arizona site is uncertain, according to the company's statement.
While the immediate impact on Meyer Burger's German locations in Hohenstein-Ernstthal, Saxony, and Bitterfeld-Wolfen, Saxony-Anhalt, is unclear, negotiations with bondholders are ongoing. In both Saxony and Saxony-Anhalt, short-time work measures have been implemented for around 300 employees in response to temporary setbacks.
Solar cell production in Thalheim, Germany, was recently affected by temporary material shortages [1]. However, the current challenges faced by the company in the US are not directly linked to the Thalheim facility.
Meyer Burger is currently in talks with bondholders about restructuring, with two convertible bonds due in 2027 and 2029 under consideration. The company's struggles, including competition from China, have been ongoing for several years. Previous measures, such as job reductions, have already been implemented, albeit not specifically in Germany.
Source: ntv.de, lar/dpa
[1] Meyer Burger Short-Time Work Due to Material Shortages, Axel Kasekow, Feb 1, 2023.
Solar energyIndustryUSAPhotovoltaicsArizona
- In light of the community policy changes, it may be beneficial for some of the laid-off employees in Arizona to consider vocational training programs in other sectors, such as technology or sports, as a means to adapt to the shift in the solar industry.
- As Meyer Burger navigates the challenges of restructuring and competition, it could consider partnering with local organizations in Germany to provide vocational training in photovoltaics, potentially helping to maintain the skillset within the industry while supporting the company's recovery.
