Consultation procedure at the production location in Thun has been completed

 

Press Release

Thun, 8 December 2017

 

 

Consultation procedure at the production location in Thun has been completed

 

  • Consultation procedure at Meyer Burger which opened on 2 November 2017 was completed on 28 November 2017
  • Proposals submitted by the Employee Representatives were examined in-depth by the Executive Board and a response delivered

 

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced a cost efficiency programme on 2 November 2017 which included plans to discontinue all manufacturing activities in Thun by the end of 2018. In connection with this announcement, the company also opened the corresponding consultation procedure on 2 November 2017 which offered employees the opportunity to express their views and proposals to the plans.

 

Constructive dialogue between Employee Representatives and Executive Board

Throughout the consultation procedure, the Executive Board and the Employee Representatives maintained an active, respectful dialogue. The Employee Representatives had until 28 November 2017 to prepare and submit a written report of their proposals. The Executive Board examined all proposals in-depth and delivered their final response to the Employee Representatives and the Canton of Bern on 6 December 2017. The employees were informed of the results on 7 December 2017 by Meyer Burger CEO Hans Brändle and by the President of the Employee Representatives, Martin Fischer.

 

Reduction in affected positions

Of the up to 180 affected positions in manufacturing, logistics, purchasing and production planning which were communicated on 2 November 2017, around 160 have been confirmed. Of these, approximately 100 are definitely affected and around 60 further positions are dependent upon the results of various strategic alternatives. Successful solutions are also being arranged for the 26 apprentices who are affected.

 

Implementation during the next 15 months

Following completion of the consultation procedure, all employees can be informed of the next definite steps in the process which will be implemented in the next 15 months. Meyer Burger expects most of the transformation to be completed by the end of 2018.

 

 

 

Contacts:         

Ingrid Carstensen

Head of Corporate Communications

Phone: +41 (0)33 221 28 34

ingrid.carstensen@meyerburger.com

 

Daniel Eicher

c/o Tolxdorff & Eicher Consulting

Phone: +41 (0)33 221 28 83

daniel.eicher@meyerburger.com

 

 

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. 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 SECURITIES LAWS.

 

This press release may contain “forward-looking statements”, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this press release are based on data available to Meyer Burger Technology Ltd as of the date that this press release is published. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.