Meyer Burger Technology Ltd (SWX Swiss Exchange: MBTN) acquires a majority stake of 66% of the share capital of Hennecke GmbH. Hennecke was founded in 1985 and is a global leader with its expertise in high-precision measurement technology for wafer production. The company, with headquarters located in Zülpich (near Bonn/Germany), has annual revenues of approximately EURO 11 million and currently employs 22 people. The managing partners, Mr Heinrich Peter Hennecke and Mr Jürgen Grosser, will continue to manage the company together with the existing staff as an independent unit within Meyer Burger Group.
Meyer Burger also extends its existing product portfolio in the area of wafer handling by acquiring 51% of the share capital of amb bernhard brain apparate + maschinenbau gmbh & co. kg and, as a result, is taking a decisive step in reaching with automation technology right into the area of cell production. amb was founded in 1992 and has been successfully involved in the domain of wafer handling since the mid-90s. The company has also been able to position itself very successfully with automated systems for the solar industry since 2003. amb has its headquarters in Gersthofen (near Augsburg, Germany) and employs 24 people. The company is active internationally and generates annual revenues of approximately EURO 3 million. The managing partner and previously sole shareholder, Mr Bernhard Brain, will continue together with his team to operate the business unit within Meyer Burger Group.
Strengthening of the market position and earnings power
With the two acquisitions Meyer Burger is extending its core competencies with fundamental technology elements such as “high-precision measurement technology” and “automation/handling” of wafers and solar cells. Parallel to the takeovers, Meyer Burger has also formed an own company within the Group in Germany (MB Automation). MB Automation specialises on process elements such as “robotics” and “brick handling”. Within its Group, Meyer Burger is now merging the individual core competences and will transfer from its subsidiary Meyer Burger AG already existing process elements like measurement technology, handling and automation into the new companies.
With these acquisitions Meyer Burger is strengthening and expanding its market presence and its globally leading position as a technology group for systems and processes used in the treatment of crystalline and other high-grade materials. The entire Group will continue to show further substantial growth and increase its earnings power.
Peter Pauli, CEO of Meyer Burger Technology Ltd, points out: “With Hennecke, amb and Meyer Burger there is a force of three profitable and strongly growing companies that, with their different technologies, fit excellent together into one Group. Adding these technologies and thereby expanding along the value chain of solar wafer manufacturing will enable us to extend our leading position in the solar industry even further”.
Information on the transactions
The transactions involve at first 66% of the share capital of Hennecke and 51% of the share capital of amb. Meyer Burger and the respective owners of the remaining shares have agreed to further options with regard to acquiring the remaining share capital at a later stage. The parties involved have agreed to observe secrecy about the purchase prices. Meyer Burger will pay for the majority participations with cash from existing funds and by shares of Meyer Burger Technology Ltd. The transactions are expected to be completed during 1st quarter of 2008.
Conference Call today, 21 December 2007 at 09:30 hours (CET) in German language
A conference call will be held today, 21 December 2007 on the subject of the two acquisitions. Please dial in 5 to 10 minutes before the start of the conference call, using the following number:
+41 91 610 56 00
About one hour prior to the start of the conference call, a Conference Call Presentation will become available on the website of Meyer Burger under the German link: www.meyerburger.ch – Investor Relations – Präsentationen & Publikationen
About Meyer Burger Technology Ltd
http://www.meyerburger.ch/
Meyer Burger Technology Ltd is a leading and globally active technology group for innovative systems and processes for cutting and handling crystalline and other high-grade materials.
The machines, competences and technologies of the different companies in the group are used in the solar industry (photovoltaics), semi-conductor and optical industry. The thinnest wafers made from silicon, sapphire or other crystals are required in these three markets to manufacture solar modules, switching circuits or high-performance LEDs. The group’s core competences are made up of a whole range of production processes, machines and systems that are used within the value chain in the manufacture of high quality wafers. The comprehensive range of products is complemented by a worldwide service network with wear and tear parts, consumables, re-grooving service, process know-how, servicing, after-sales service, training and other services. As a globally active company, the group is represented in Europe, Asia and North America in the respective key markets.
Meyer Burger has its headquarters and the production facility of Meyer Burger Ltd in Switzerland, while the group companies, Meyer Burger Automation GmbH, Hennecke Systems GmbH and and AMB Apparate + Maschinenbau GmbH, have their headquarters and production facilities in Germany. The group also has subsidiaries and own service centres in Germany, Norway, China and Japan, which all are represented by its own staff on-site. In Taiwan and the USA, Meyer Burger works with independent sales and service partners that are part of Meyer Burger’s global service network. In other important countries the company relies on selected independent agents. Meyer Burger generated net sales of CHF 455 million in fiscal year 2008 and employed more than 630 staff worldwide as of year end 2008.
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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 OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES 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.
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