Meyer Burger’s solar cell production in Saxony-Anhalt will remain intact and will not be relocated to the USA as previously planned. The Swiss solar company had repeatedly threatened to shift its operations overseas, causing concern among stakeholders. As a result, the company’s stock plummeted to a record low.
The solar company, Meyer Burger, has once again decided to restructure its operations, implementing extensive changes. On Monday, the Swiss corporation announced that the planned establishment of a solar cell manufacturing facility in Colorado Springs is currently not financially viable and has been halted. The company will now focus on expanding its module production facility in Goodyear, Arizona, where capacity is currently being increased. However, due to these strategic adjustments, a previously anticipated collaboration with a U.S. technology corporation will also not proceed as planned.
As recently as June, the management had reported “significant progress” in its plans, raising investors’ hopes for a return to profitability. However, the abrupt change in strategy has caused a mass exodus of shareholders: the stock plunged by up to 55.5 percent to an all-time low of 1.82 Swiss francs. Since July 2023, the company’s shares have been on a near-continuous downward trend, losing approximately 95 percent of their value, which was still at 49.51 Swiss francs per share in early January of this year.
Contrary to its initial plans, Meyer Burger intends to continue its production in Germany. The existing solar cell production facility in Thalheim, located in Bitterfeld-Wolfen, Saxony-Anhalt, will continue to operate at full capacity and is now set to remain the backbone of Meyer Burger’s solar cell supply chain. “This is the good news to the bad,” said CEO Gunter Erfurt.
These solar cells are considered the most cost-effective option under current market conditions for supplying the module production in Goodyear. The existing long-term supply agreements are expected to be fulfilled, and production capacity in Goodyear should be fully utilized. Additionally, negotiations with other customers for additional orders are currently underway.
