Overview
- The company stopped its ramped-up solar module production in the U.S. due to a lack of financial resources.
- The shutdown at the Arizona plant led to the dismissal of 282 employees as the facility is taken offline.
- Meyer Burger is negotiating with bondholders to restructure two convertible bonds maturing in 2027 and 2029.
- Production had only recently begun using solar cells imported from Germany before the abrupt halt.
- The manufacturer has struggled against lower-cost Chinese competitors and secured a nearly $40 million bridging loan in December.