This is the latest in a string of cost cutting measures implemented at Meyer Burger, which has reduced operating expenses by more than 36% – from CHF 330 million to CHF 210 million over the past 5 years.
The announcement comes in spite of positive results for the company in the first half of 2016. Several large manufacturers have placed orders for Meyer Burgers leading PERC production technology, JA solar handed them a contract worth CHF 18 million earlier this year, and several other large orders have been confirmed. Financials for the first half of 2016 show that the company saw profits, the first time they have posted positive results since 2012.
Despite this, the emerging overcapacity cell and module market has depressed the outlook for production equipment orders, whether they be for new lines or upgrades, such as PERC.
Meyer Burger CEO Peter Pauli stated: The improvements we achieved during the first half of 2016 have been very encouraging. However, we must lift our company into sustainable profitability on the net earnings level as well.
Around 250 employees will be made redundant as a result of the restructuring, one third of these from the companys headquarters in Thun, Switzerland.
These decisions are not easy to take. We want to align Meyer Burger for the future and become leaner, increasingly flexible and even more focused on high end user markets in the PV industry. Continues Pauli, The structural program creates the conditions for Meyer Burger to increase its operating profitability and to continue to benefit from its strong market position.
Edited by Jonathan Gifford