Meyer Burger Secures Financial Breather Amid Challenges
Swiss solar company Meyer Burger has secured a bridge financing of nearly $40 million from creditors, providing temporary relief as it faces ongoing challenges, including the abrupt contract termination with its largest customer, Desri. Following the announcement, the company’s stock soared by 250%. CEO Franz Richter expressed optimism about the company’s survival chances exceeding 50%, citing ongoing negotiations with Desri and other clients to stabilize future contracts.