Meyer Burger: upswing in Arizona despite the job cuts in Germany!
Meyer Burger: upswing in Arizona despite the job cuts in Germany!
Goodyear, Arizona, USA - The Swiss solar manufacturer Meyer Burger is under pressure and urgently needs to change! Despite the challenges, the company expects a significant increase in production quantities of solar modules for the second half of the year. The commissioning of a new production line in Goodyear, Arizona, will ensure sales boost thanks to long -term acceptance contracts that are already in the pipeline. In the first half of 2024, however, sales dropped dramatically to only CHF 48.7 million, a decrease of almost 50 percent compared to the previous year.
The reasons for this decline are alarming! Meyer Burger hired module production in Freiberg, Germany, in the first quarter of 2024, which led to a decline in the solar modules produced to about 105 megawatts. The company's financial reserves have also decreased drastically: from CHF 158.6 million at the end of June to only CHF 83.4 million on September 30th. The company has now decided to make a massive renovation and commissioned a consultant to help create a renovation report.
locations under pressure
Although Meyer Burger has confirmed the locations in Germany, the future remains uncertain. Thalheim is considered central to solar cell production, while the technology location in Hohenstein-Ernstthal should be preserved for the further development of the technology. However, the restructuring has already led to reducing the global number of employees from 1050 to 850 by the end of 2025. Discharges in Germany are not excluded, and the precise distribution of the job cancellations remains unclear.
The situation is tense! With the cancellation of the project in Colorado Springs, Meyer Burger has lost valuable initial investments, which led to a financing gap in the double -digit millions. The company is aiming for a rapid restructuring to prepare for a stable and profitable business operations by 2026. The next steps are crucial for the future of the company!
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Ort | Goodyear, Arizona, USA |
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