Meyer Burger has signed a conditinal share purchase agreement to acquire a majority stake of around 76% of the share capital of EMIX SA, a French company headquartered in St-Maurice La Souterraine (F). EMIX is a specialist in the production of multi-crystalline silicon blocks and has developed a process for producing continuous silicon blocks of totally new dimensions, thereby making it possible to achieve considerable savings in energy and raw materials. The company uses crystallisation systems it has developed in-house to produce silicon blocks for customers in Europe and Asia and achieved sales of approx. EURO 4 million in the 2007 fiscal year. EMIX currently has 25 employees. The planned acquisition will broaden and strengthen the portfolio of Meyer Burger Group along the entire value chain and close the crystallisation gap. EMIX shall continue to be managed by its former owners and run with the existing staff. The involved parties have agreed to observe secrecy about the intended purchase price. The transaction is expected to be completed during autumn 2008.
Meyer Burger Technology Ltd (SWX Swiss Exchange: MBTN) announced today, that it has signed a conditional share purchase agreement for the acquisition of a majority stake of approx. 76% of the share capital of EMIX SA. EMIX, headquartered in St-Maurice La Souterraine (Limousin region/F), was founded in November 2002. The company operates in Europe, mainly in Germany and France, as well as in Asia and achieved sales of approx. EURO 4 million in the 2007 fiscal year. The current management team shalll continue to manage the company together with the existing staff of 25 employees.
EMIX is an experienced operator of crystal growing systems and is a specialist in the vertical production of continuous silicon blocks. The company has developed a technology which makes it possible to cast long multi-crystalline silicon blocks and thus produce silicon blocks of completely new dimensions while also optimising energy consumption. These new silicon block sizes are ideally suited for use with Meyer Burger saw systems and help optimise utilisation. The method used previously could only produce wide, flat multi-crystalline silicon blocks. When processing long silicon blocks, only a few cuts are needed to achieve an output-optimised production process for wafer manufacturing. In addition, the continuous crystal casting method produces pure silicon blocks which allows to optimise kerf loss. The innovative technology from EMIX thus will make it possible to shorten the wafer line.
For the Meyer Burger Group, the planned acquisition of EMIX and thus the purchase of a new silicon crystallisation process means the upstream integration of another technology into the existing wafer line.
Information on the transaction
Meyer Burger intends to acquire approx. 76% of the share capital of EMIX in a first step, and has already agreed with the current owners on further options with regard to purchasing the remaining share capital at a later stage. The signed purchase agreement is subject to usual conditions. Meyer Burger will finance the acquisition with cash from existing funds and by shares of Meyer Burger Technology Ltd. The transaction is expected to be completed during autumn 2008.
For further information, please contact:
Michel Hirschi, Chief Financial Officer
+41 33 439 05 05, ir@meyerburger.ch
About Meyer Burger Technology Ltd
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 competencies 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 new group companies, Meyer Burger Automation GmbH, Hennecke Systems GmbH and AMB Apparate + Maschinenbau GmbH, have their headquarters and production facilities in Germany. The group also has subsidiaries in China and Japan, and service centres in Germany and the Philippines, which are all 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 208 million in fiscal year 2007 and employs more than 450 staff worldwide as of February 2008.
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