Press release

Thun, December 18, 2019

 

 

Meyer Burger is consolidating its production capacities in Hohenstein-Ernstthal

Closure of the site in Zülpich (Germany)

 

 

Meyer Burger Technology Ltd. (SIX Swiss Exchange: MBTN) announced today to completely discontinue its production site in Zülpich (Germany) by mid-2020. In the future, the systems for optical measuring and testing technologies for industrial manufacturing sold under the Hennecke brand will be produced entirely at Meyer Burger's largest site in Hohenstein-Ernstthal using own resources.

 

Around 60 employees will be affected by the closure of the Zülpich site. Meyer Burger will offer the affected employees, some of whom have been with the company for many years, socially compatible solutions on the basis of the legal requirements. Meyer Burger expects restructuring costs of approximately CHF 7 million, which will be provided for in 2019 and of which CHF 3 million is expected to affect cashflow in 2020.

 

Hans Brändle, CEO Meyer Burger commented: "We are proud of our market-leading wafer inspection product and will continue to offer it to demanding customers. However, volumes and margins have fallen sharply in recent months. The decision to close the Zülpich site was therefore not taken lightly. However, Meyer Burger  had to take this decisive step as part of the planned adjustment of the business model and as a result of the unattractive margins in the PV standard business, especially in the Chinese market, and after examining various strategic options. Further consolidating our production capacities in Hohenstein-Ernstthal allows us to continue to increase efficiency and strengthen our competitiveness."

 

 

Contacts:

 

Stefan Diepenbrock

Head of Corporate Communications

Tel: +41 (0)33 221 27 85

stefan.diepenbrock@meyerburger.com

 

Jan Gregor

c/o Gregor Communications GmbH

Tel: +41 (0)33 221 24 02

jan.gregor@meyerburger.com

 

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED DIRECTLY OR INDIRECTLY TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES OF AMERICA. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES OF AMERICA SECURITIES LAWS.

 

This media release may contain statements referring to the future, such as expectations, plans, intentions or strategies concerning the future. Such statements involve uncertainties and risks. Readers must therefore be aware that such statements can diverge from actual future occurrences. All statements concerning the future in this media release are based on data which were available to Meyer Burger Technology AG at the time of publishing this media release. The company does not undertake to update future-oriented statements made in this media release at a later date on the basis of new information, future events or suchlike.