Move to the US: Meyer Burger is in the red and closing its Germany factory in mid-March

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Solar energy company Meyer Burger suffered a huge loss last year. Module production at the Freiberg facility in Saxony, Germany, was stopped in mid-March 2024. The company will look for its luck in the USA in the future.

In particular, sales of Meyer Burger have fallen to 135.0 million francs in 2023 (2022: 147.2 million), as Meyer Burger announced on Thursday. Operationally (Ebitda) the company once again reported a loss of 163.6 million francs, compared to a loss of 34.6 million francs in the previous year. The result was a very high loss of 291.9 million francs (2022: -69.9 million francs). Almost half of the loss was due to one-time effects.

At Meyer Burger, the focus is not just on numbers. On the contrary, the company is once again dealing with the planned closure of the factory in Freiberg in eastern Germany. Production there actually stopped in mid-March as reported.

Meyer Burger boss Gunter Erfurt said production at the plant had caused “serious losses” due to a price drop in the solar industry and “unfair competition” with Chinese manufacturers. Therefore, closure is primarily a business decision.

moving to the USA

Production of solar modules and cells will be moved to the USA. To this end, we are making heavy investments to complete solar cell production in Colorado Springs, Colorado, USA, and to complete solar module production in Goodyear, Arizona.

Meyer Burger wrote that ramping up cell production in Colorado Springs is planned to begin in late 2024, provided the necessary funding arrives as currently expected. (sda/month)

Source :Blick