لا يوجد حالياً أي شيء متبقٍ لماير برجر في أوروبا
Published: Thursday, Mar 14th 2024, 14:40
العودة إلى البث المباشر
The solar industry is in a state of upheaval. Because China and the USA are pumping massive subsidies into the industry, the Swiss company Meyer Burger also sees its future overseas. For the plan to work, however, the planned capital increase must first be waved through.
A look at the shockingly deep red balance sheet for 2023 shows just how dramatic the situation at Meyer Burger really is. The bottom line is a very high loss of CHF 291.9 million (previous year: -69.9 million).
The company is also burning far too much money: cash and cash equivalents amounted to 82 million at the end of February, compared to 150 million at the end of 2023. Cost reductions are therefore more than urgent.
Freiberg plant at a standstill
No wonder the management is pressing ahead with the closure of the Freiberg site in the eastern German state of Saxony. This should come as a relief. After some back and forth, production there has now come to a standstill.
This is bad news for the workforce. 500 people will probably lose their jobs. Calls for help from German politicians have so far gone unheard.
This is despite the fact that German solar manufacturers are under massive pressure due to competition from China. The Chinese are currently flooding the market with dumping prices. However, the majority of modules from China are produced using forced labor, solar companies operating in Germany recently criticized. In addition, the Chinese state is promoting production there with huge subsidies. Despite this, the German government has so far been unable to bring itself to promote solar products from domestic production.
"Unfortunately, our continent is the only one that has not yet recognized the strategic importance of solar energy," said Meyer Burger Managing Director Gunter Erfurt in an interview with the news agency AWP on Thursday. However, he could not work with the "principle of hope" as a strategy, Erfurt explained the decision to close the company.
Going to the USA
The manager now wants to try his luck with his company in the USA. The situation there is completely different. "The country has recognized the importance of this technology for the coming decades and is doing what it needs to do," says the manager. As part of the "Inflation Reduction Act", the domestic industry is being massively supported and relocated.
Meyer Burger initiated the investments in the USA several years ago. Production at the new plant in Goodyear, Arizona, is scheduled to start in the second quarter of 2024. The ramp-up of cell production in Colorado Springs is scheduled to begin towards the end of 2024. A positive cash flow from the North American business is already possible from 2026, Erfurt told AWP.
However, in order to survive the current lean period, the company first needs fresh funds. As is well known, a capital increase of 200 to 250 million Swiss francs is intended to provide this. It has now been announced that Desri, Meyer Burger's largest US customer by far, will participate.
Meyer Burger's share price continues to fall on the stock market. At around 1.30 p.m., the shares are "only" down in single digits (-7.8%).
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