Image: Meyer Burger

Switzerland’s stock exchange operator, SIX, announced that it will delist all registered shares of Meyer Burger (MBTN.S) after the solar panel manufacturer failed to meet a deadline to submit its 2024 annual report. The decision was confirmed by SIX Exchange Regulation (SER) on Tuesday.

According to SER, Meyer Burger has not addressed the reasons behind the delayed annual report, and the issue is unlikely to be resolved within the required timeframe. As a result, the regulator has requested the company’s delisting.

The decision is not yet legally binding and can be appealed within 20 days.

Meyer Burger, which has faced difficulties competing with lower-cost solar products imported from Asia, said it would announce further steps “in due course.” In May, the company revealed plans to close its U.S. factory in Arizona due to financial challenges, and shortly afterward, it filed for insolvency for its German subsidiaries.

Trading of Meyer Burger’s shares has been suspended for the past three months and will remain halted until further notice, SER added.