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
About Meyer Burger Technology Ltd
www.meyerburger.com
Meyer Burger is a leading and globally active technology company specialising in innovative systems and production equipment for the solar photovoltaic market. The company has shaped the development of photovoltaics along the entire value chain and has set essential industry standards, such as the diamond wire saw technology, the industrial PERC solution and precision measurement technology for solar modules. A large proportion of the solar modules produced world-wide today are based on technologies developed by Meyer Burger.
In line with its new business model and strategy, Meyer Burger transforms itself into a manufacturer of high-performance photovoltaic cells and modules, based on its proprietary heterojunction/SmartWire technology. With heterojunction/SmartWire, the Company has developed the next-generation photovoltaic technology with higher conversion efficiency and higher energy yield than the current standard Mono-PERC and other heterojunction technologies currently available. Meyer Burger operates its research and development centers in Thun and Hauterive, Switzerland, its machine industrialization and manufacturing site in Hohenstein-Ernstthal, Germany and will produce the cells and modules in Bitterfeld-Wolfen and Freiberg, Germany. The registered shares in Meyer Burger Technology Ltd are listed at the SIX Swiss Exchange (Ticker: MBTN).
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