Meyer Burger prepares to shut down plant in Germany

Swiss solar panel maker Meyer Burger will seek shareholder approval for a rights issue of as much as CHF 250 million ($284 million) to finance the completion of its US manufacturing facilities in Colorado and Arizona. Swiss PV manufacturer Meyer Burger has decided to discontinue solar module production in March in Freiberg, Germany, in a bid to stop sustained losses in Europe. The company will instead concentrate on building up its production facilities in the United States. "As there has not yet been any decision on policy support measures to remediate current market distortions created by oversupply ...

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