Meyer Burger further optimises cost structure and production capacity at its technology location DMT in Colorado Springs, USA
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that the company is further optimising the cost structure and production capacity at its Technology and Product Centre (TPC) Diamond Materials Tech, Inc. (DMT), in Colorado Springs, USA. With this further restructuring and focussing measure, DMT is responding to the strong continuing global pressure on prices and margins for diamond wire volume production in the photovoltaic industry. In future, the development and production of diamond wire solutions will be increasingly focussed on highly specialised applications outside of the PV industry.
This strategic decision and the subsequently implemented measures will lead to a workforce reduction of 46 employees at the TPC site in Colorado Springs. Through this and earlier steps taken in Colorado Springs, the operating cost base will decrease by more than USD 6 million in the 2016 financial year compared to the level at the beginning of 2015. With an optimised cost structure which has been adjusted to reflect its business volume, DMT will be able to return to sustainable profitability.
The measure will lead to a one-time non-cash write-off of technology and production equipment in the order of USD 16.9 million, which will be charged to the income statement 2015.
Contact:
Ingrid Carstensen
Corporate Communications
Phone +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 company specialising on innovative systems and processes based on semiconductor technologies. The company’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 company currently employs around 1,700 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.
Meyer Burger’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 company’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 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, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. The company 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).
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