Meyer Burger's CEO and CFO to exit as revamp plan unveiled

The CEO and CFO of Meyer Burger Technology AG (SWX:MBTN) are stepping down as the Swiss solar products maker is launching a restructuring programme following the discontinuation of a large solar cell manufacturing project in the US and the shutdown of module production in Germany.

The company said on Wednesday it will reduce its global workforce to 850 by the end of 2025 from about 1,050 now. The disproportionate reduction in Europe will be offset by a rise in the USA, where Meyer Burger launched a facility for the production of solar modules in June.

Chief executive Gunter Erfurt will be replaced by Franz Richter, who currently acts as chairman of the board of directors. The responsibilities of outgoing CFO Markus Nikles will be assumed by Ralf Hermkens in the US and Frank Zimmermann in Europe. Nikles will leave the company by the end of September.

Meyer Burger, which halted solar module production at its Freiberg site in Germany, now plans to focus on the new US facility in Goodyear, Arizona, and its solar cells plant in Thalheim, Germany. The company will also maintain its technological capabilities in Hohenstein-Ernstthal, Germany.

The restructuring measures are aimed at making Meyer Burger profitable. The manufacturer targets revenue of between CHF 350 million (USD 414.5m/EUR 372.1m) and CHF 400 million and earnings before interest, tax, depreciation and amortisation (EBITDA) in the mid-double-digit million range from 2026 onwards. The projections are largely based on the existing production capacity and long-term supply agreements with key customers.

At the same time, various options are currently being considered to close the remaining financing gap, the company said.

(CHF 1 = USD 1.184/EUR 1.063)

Choose your newsletter by Renewables Now. Join for free!