Solar cell and module manufacturer Meyer Burger Technology has announced that its German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have initiated insolvency proceedings as restructuring efforts were unsuccessful.
Meyer Burger stated that it had made intensive efforts to keep the sites operational during the restructuring negotiations. However, the efforts yielded no success, and the company will continue the proceedings, together with a provisional insolvency administrator to be appointed by the court.
It has also stopped module production in the U.S. due to a lack of funds. All 289 employees at the Goodyear, Arizona facility received their termination notices. The manufacturing facility had an annual capacity…
