Listening: Swiss solar company Meyer Burger secures additional financing
The heavily troubled solar company Meyer Burger has secured additional financial resources. The bridge financing concluded to stabilise the Swiss company has been extended and increased. The company has also launched a takeover process.
This content was published on
2 minutes
Keystone-SDA
Deutsch
de
Meyer Burger sichert sich zusätzliche finanzielle Mittel
Original
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 $40 million (CHF36.5 million) to $59.5 million, according to a statement issued by the company on Saturday.
The company also announced that a takeover process had 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 stabilise the company was announced on December 6. The company began to falter after its largest client abruptly terminated the contract in November.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
Popular Stories
More
Swiss Abroad
Aussie adoptee gains Swiss citizenship at 54 thanks to old envelope
Should Switzerland take measures to support its struggling industries?
Industrial policies are back in fashion, not only in the United States but also in the EU. Should Switzerland, where various industries are struggling, draw inspiration from such policies?
This content was published on
The amount of unproductive land in Switzerland has hardly changed in recent decades. Nationwide, it shrank by around 2% between 1985 and 2018.
Rescue teams had hands full at Lauberhorn ski race
This content was published on
From broken bones to heart attacks, the rescue teams had a busy weekend at the Ski World Cup in Wengen, which attracted a record 80,000 fans.
Centre Party president rules out run for Swiss government post
This content was published on
Outgoing Centre Party president Gerhard Pfister will not join the race to replace defence minister Viola Amherd in the Swiss government, the politician announced on Saturday.
Several hundred people join anti-WEF protests in Switzerland
This content was published on
Several hundred opponents of the World Economic Forum gathered in Graubünden and in the capital Bern on Saturday to take aim in particular at the WEF's high-profile guests.
Swiss skiers nab top spots in iconic Lauberhorn race
This content was published on
Swiss skier Marco Odermatt has won the Lauberhorn downhill ski race in Wengen, Switzerland, for the third time, just ahead of compatriot Franjo von Allmen.
Switzerland’s neighbours are ‘not role models’ in fiscal policy, says finance minister
This content was published on
Swiss finance minister Karin Keller-Sutter defended the country's compliance with the debt brake at a meeting of her party, the Radical-Liberals, on Saturday.
Pope Francis praises Swiss Guards’ patience with pilgrims
This content was published on
During a private audience on Saturday, Pope Francis praised the Swiss Guards for their "great patience" with pilgrims who visit the Vatican.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.