Press release

Thun, October 1, 2020

 

 

Closing of the sale of the microwave and plasma technology company Muegge GmbH

 

 

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces today the closing of the sale of the microwave and plasma technology company Muegge GmbH to the investment company HQ Equita, which was announced on 10 August 2020. HQ Equita, which is part of the Harald Quandt Group in Bad Homburg, Germany, will acquire all of Muegge GmbH’s business divisions including its subsidiary Gerling Applied Engineering Inc. based in Modesto CA, USA, as well as its approximately 100 employees. As previously announced, the book profit will amount to approximately CHF 4 million. The contract also includes an earn-out of CHF 2.5 million, which is due the following year based on the agreed financial targets for 2021.

 

Media contacts:

Meyer Burger Technology AG

Anne Schneider

Head Corporate Communications

Tel +49 37 23 671 22 35 | Mob +49 174 349 17 90

anne.schneider@meyerburger.com

 

Dynamics Group AG

Andreas Durisch, Senior Partner

Tel +41 43 268 27 47 | Mob +41 79 358 87 32

adu@dynamicsgroup.ch