Swiss-based Meyer Burger, a key European solar panel manufacturer, has announced an uncertain future following the immediate termination of its largest contract by US-based DESRI. The news sent Meyer Burger’s shares plummeting 72% to record lows, with trading temporarily halted on the Zurich exchange. According to Meyer Burger, this termination threatens its advanced financial restructuring plans. The company has faced mounting challenges, including a March plant closure in Freiberg, Germany, an August halt on its Colorado facility, and a September workforce reduction of nearly 20% (from 1,050 employees). DESRI was expected to account for up to 90% of Meyer Burger’s 2025-26 sales, highlighting the gravity of the loss. European solar firms are struggling against China, which is projected to control 80% of global solar manufacturing capacity by 2026.
Meyer Burger faces uncertain future amid DESRI contract loss
The DESRI contract loss poses a major challenge, impacting 90% of Meyer Burger’s 2025-2026 sales forecasts. (Image Source: Meyer Burger)
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