Photovoltaics Meyer Burger secures additional financial resources
The heavily troubled solar company Meyer Burger has secured additional financial resources. The bridge financing concluded to stabilize the company has been extended and increased. The company has also started a takeover process.
18.01.2025, 21:45
SDA
The new agreement extends the maturity date of all tranches of the bridge financing from January 17 to February 14, 2025 and increases the total amount from around USD 40 million to USD 59.5 million, according to a statement issued by the company on Saturday.
The company also announced that a takeover process has been launched with "one or more potentially interested third-party buyers". If this process is unsuccessful, the alternative of a comprehensive restructuring remains. In the past four months, "significant progress" has been made in this regard.
The financial injection to stabilize the company was announced on 6 December. The company began to falter after its largest client abruptly terminated the contract in November.
