Meyer Burger Ceases U.S. Solar Module Production, 282 Jobs Cut

Meyer Burger Technology AG has announced the immediate cessation of its solar module production operations at the Goodyear, Arizona site, resulting in the termination of 282 employees. The Swiss company cited a lack of funds as the reason for the shutdown, which had been operating with an annual capacity of 1.4 gigawatts. The future of the facility remains uncertain, with no clear direction outlined.

The company is currently engaged in discussions with an ad hoc group of bondholders to address issues related to the restructuring of two convertible bonds. These bonds are set to mature in 2027 and 2029 and are linked to MBT Systems GmbH, but guaranteed by Meyer Burger Technology AG.