New investment with contract of approximately CHF 12 million by important customer of Meyer Burger Meyer Burger has successfully concluded a follow-up contract for high precision wire sawing systems with one of its customers in the Asian market. The contract is for just over CHF 12 million and replaces a larger outstanding portion of an earlier order from the 2011 business year. The delivery of the newly ordered systems is planned for the end of 2013.
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that it has successfully concluded a follow-up contract with one of the company’s major Asian customers for the delivery of high precision slicing systems for solar wafers. During the 2011 business year, the customer had planned to expand its production capacities and concluded a very substantial order with Meyer Burger. During the years 2011 and 2012 more than half of the total contractual amount could be recognized as net sales through the income statement. As a result of the difficult market environment in the solar industry, the final phases of the customer’s expansion project were not realised.
New investments
As the market for solar modules begins to recover, the customer is once again investing in its production capacity and has ordered wire saws for over CHF 12 million. As part of the contract negotiations, it was agreed that this new contract replaces the outstanding deliveries remaining from the earlier contract. As a result, Meyer Burger Group will adjust its order backlog by CHF 46 million net.
Delivery by the end of 2013
The delivery of the systems is planned for the end of 2013. Meyer Burger views the renewed willingness by its customer to invest in production systems as a positive indication that the recovery of the photovoltaic market is continuing.
For further information:
Werner Buchholz
Head of Corporate Communications
Phone +41 (0)33 221 25 06
werner.buchholz@meyerburger.com
Ingrid Carstensen
Corporate Communications
Meyer Burger Technology Ltd
Tel: +41 (0) 33 221 28 34
ingrid.carstensen@meyerburger.com
About Meyer Burger Technology Ltd
www.meyerburger.com
Meyer Burger is a leading global technology Group specialising on innovative systems and processes based on semiconductor technologies. The Group’s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. The Group currently employs more than 1,800 people across three continents. Over the past ten years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies.
The Group’s offering in systems, production equipment and services along the photovoltaic value chain includes the manufacturing processes for wafers, solar cells, solar modules and solar systems. Meyer Burger provides substantial added value to its customers and clearly differentiates itself from its competitors by focusing on the entire value chain.
The Group’s comprehensive product portfolio is complemented by a worldwide service network with spare parts, consumables, process know-how, customer support, after-sales services, training and other services. Meyer Burger Group is represented in Europe, Asia and North America in the respective key markets and has subsidiaries and own service centres in China, Germany, India, Japan, Korea, the Netherlands, Switzerland, Singapore, Taiwan and the USA. The Group is also working intensively to develop new markets such as South America, Africa and the Arab region. The registered shares of Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange (Ticker: MBTN).
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.
