Meyer Burger files for bankruptcy: Thalheim in crisis!

Meyer Burger files for bankruptcy: Thalheim in crisis!

Meyer Burger, and the future of its location in Thalheim, Saxony-Anhalt, are in jeopardy. The company has applied for the opening of insolvency proceedings for its German subsidiaries. Solar cell production in Thalheim, where 331 employees are currently employed, is particularly affected. The employees have been on short-time work since May 2023 while the company now tries to find a solution to the ongoing financial difficulties that have existed for years. Renovation has not been successful so far, which means the situation is becoming increasingly dramatic.

The bankruptcy filing comes as no surprise as redevelopment efforts to preserve the site have failed. Armin Schenk, the mayor of Bitterfeld-Wolfen, expresses his regret about the developments and speaks of a bitter situation for the region and beyond for all of Germany and Europe. It is hoped that the insolvency proceedings will open up new ways to stabilize the company.

Historical context and competitive pressure

The situation in Thalheim is reminiscent of the bankruptcy of the former solar module manufacturer Sovello in 2012, which also comes from this region. The solar industry in Saxony-Anhalt has suffered significant setbacks in recent years, especially due to competition from Asia, where solar modules can be produced much more cheaply. Myers Burger's location in Thalheim was once one of the largest solar sites in Europe, but is now fighting against cheap imported products.

Meyer Burger's US plant, the only customer for the solar cells produced in Thalheim, recently stopped production. The negative effects of this decision are also being felt in Hohenstein-Ernstthal, Saxony, where 289 employees work in mechanical engineering and technology development. Against this background, Meyer Burger requested an extension of the deadline for submitting the business figures for 2024 in order to complete ongoing financing discussions for the restructuring.

Outlook for the future

The uncertain situation is particularly worrying for the employees in Thalheim, as the location is increasingly viewed as having no future. Mayor Schenk makes it clear that the crisis is not only important locally, but also for the entire solar industry and the region. The development is leading to further uncertainty in Germany's already heavily burdened solar industry, where thousands of jobs have been lost in the so-called Solar Valley in Saxony-Anhalt, Saxony and Thuringia.

In summary, Meyer Burger has reached a critical phase. Although the bankruptcy filing could bring about a turnaround, the challenges remain enormous. Given the past and current market developments, the next steps will be crucial for the future of the company and its employees.