Meyer Burger and GTAT reach settlement over disputed bill

Facebook
Twitter
LinkedIn
Reddit
Email

PV equipment specialist Meyer Burger has settled a disputed bill with GT Advanced Technologies following a US$34.8 million deal.

GTAT, which entered chapter 11 bankruptcy in October last year, had ordered diamond wire cutting systems and related parts thought to be for use in a sapphire facility making screens for Apple. The bankruptcy court in New Hampshire is still to approve the deal with a decision expected in June. If approved, it will free GTAT to begin selling off its equipment.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Court documents seen by PV Tech also show that while GTAT will take ownership of and sell the diamond wire equipment. Meyer Burger will retain 18 BrickMaster cutting tools that had been loaned to GTAT after cutting equipment previously delivered had failed to meet GTAT’s specifications. The company had an option to buy the BrickMasters and although draft contracts had been exchanged, the deal was not complete.

The documents also show that the US$34.8 million agreement is a compromise on Meyer Burger’s original claim for US$48.6 million.

GTAT has also agreed to drop counterclaims against Meyer Burger in the dispute related to breach of contract and breach of warranty.

GTAT secured US$95 million in financing to cover its costs through the bankruptcy process.

Read Next

July 30, 2025
Donald Trump has announced a 25% tariff on all imports entering the US from India from the 1st August 2025.
July 30, 2025
Wind and solar PV are set to cover over 90% of the increase in global electricity demand this year, according to the IEA.
July 30, 2025
US solar tracker manufacturer Nextracker recorded revenues of US$864 million and a gross margin of 32.6% in the quarter ending June 27, 2025.
July 30, 2025
The Government of Kyrgyzstan has signed two investment deals with Vietnamese firms Rox Energy Global and RECA LLC for the development of a 1.9GW solar project.
July 30, 2025
Spanish solar energy company Soltec has found an investor that will acquire 80% of the company’s shares in a restructuring move.
July 29, 2025
US renewables developer Savion, a subsidiary of global oil giant Shell, has formed a new company to take ownership of its solar projects after development.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK