Despite the bankruptcy applications, the German subsidiaries of the solar manufacturer Meyer Burger should continue their business for the time being.
“Our goal is to continue both companies throughout the provisional procedure,” said Lucas Flöther, the provisional insolvency administrator of the technology location Meyer Burger Technology (Germany) GmbH in Hohenstein-Ernstthal near Chemnitz. The sister company, the Solar cell production Meyer Burger (Industries) GmbH with locations in Bitterfeld-Wolfen and Hohenstein-Ernstthal, is supervised by the provisional insolvency administrator Reinhard Klose.
Wages secured for three months
The insolvency administrators said that wages and salaries of the more than 600 employees are to be secured through bankruptcy money for three months. 289 employees in Hohenstein-Ernstthal and 332 in Bitterfeld-Wolfen are affected.
Accordingly, the experts from Flöther & Wissing insolvency administration have taken up talks with the management and want to examine the economic situation in the coming weeks and explore possible renovation options. “Meyer Burger is one of the European technology and innovation leaders of the industry,” emphasized Klose. He explained that – if possible – the locations and as many jobs as possible should be preserved.
Opportunities through sale without contaminated sites
An investor solution is considered a possible path. Corresponding experiments had already failed in advance, but the administrators see better opportunities in the bankruptcy proceedings. One advantage is that buyers could “take over the business without contaminated sites”.
According to Meyer Burger, it has been suffering from a deteriorating market environment for a long time, especially from the growing competitive pressure by providers from China. After no investor solution was in sight at short notice, the management of the two German companies had applied for bankruptcy from the Chemnitz District Court.
Chemnitz/Halle (dpa-AfX)
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