The Meyer Burger Technology from Switzerland has said that his two German subsidiaries have started any insolvency procedures.
A statement from the company says that intensive efforts have been made to keep Meyer Burger Industries GmbH and Meyer Burger Germany GmbH open.
“These efforts have so far not been successful and will now be continued as part of the procedure together with a provisional insolvency manager appointed by the court,” adds the statement.
The production facility of Meyer Burger Industries in the East German city of Thalheim has 331 people, while Meyer Burger Germany employs 289 people in Mechanical Engineering and Technology Development in the eastern city of Hohenstein-Insttthal.
Meyer Burger’s statement adds that the subsidiary Meyer Burger Switzerland AG, who has around 60 people in the Swiss city of Thun, will remain in operation, while Meyer Burger Americas Ltd. Last week all employees firedwill also exist as a company.
The parent company says that it has also requested an expansion of the deadline for presenting its 2024 financial results “against the background of the current financing discussions on restructuring.” In April the manufacturer reported a provisional EBITDA loss of 2024 CHF 210.4 million ($ 256.7 million) for the tax year of 2024.
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