Meyer Burger is strengthening its technological leadership in the field of slicing technologies in the solar industry by acquiring 100% of Diamond Wire Technology (DWT), with which it has been operating a marketing and development co-operation since 2003. DWT is headquartered in Colorado Springs, Colorado, and has been concentrating on the development and production of diamond wire and diamond wire saws for over 40 years. The company currently has about 100 employees. With this acquisition, Meyer Burger is expanding its technology portfolio by a strategically important key technology in its core business of processing crystalline silicon for the solar industry. The involved parties have agreed to observe secrecy about the purchase price. Meyer Burger expects the transaction to be completed in September 2009.
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) acquires 100 % of the business activities of Diamond Wire Technology LLC (DWT), Colorado Springs, Colorado. DWT is the market leader in diamond wire technology and was founded over forty years ago (http://www.diamondwiretech.com). Since 2003, a close and successful co-operation has evolved between DWT and Meyer Burger in the development and the application of diamond wire. For the Meyer Burger Group, this acquisition represents an important strategic step and an ideal expansion of its technology portfolio along the value chain in the solar industry and the photovoltaic technology sector.
During the last few years, diamond wire has been used successfully for slicing sapphire as substrate for the production of LEDs and for other very hard and expensive crystals. Based on the same technology, both companies have together developed processes for slicing silicon for wafers used in the solar industry. From an economic as well as technological point of view, the application of diamond wire for slicing valuable silicon into super-thin solar wafers is highly interesting and complements today’s widely spread slicing technology which uses slurry – a slicing paste consisting of glycol and silicon carbide SiC. The solar industry as a emerging and important renewable energy technology for the provision of almost CO2 neutral electricity is confronted with the challenge to quickly and sustainably reduce the costs for the production of the solar cells required. Meyer Burger Technology Group is convinced that the use of the diamond wire technology of DWT in combination with the slicing and wire saws of Meyer Burger will provide their customers with a significant and decisive technological impulse, for them to achieve a reduction of the total costs of ownership in wafering.
“By expanding our technology portfolio with diamond wire, we once again contribute to a substantial reduction of the manufacturing costs of solar cells for the industry,” says Peter Pauli, CEO of Meyer Burger Technology Ltd. “Together with DWT we have a lot of experience, innovative power and market strength to introduce this technology in photovoltaics quickly and sustainably.”
The parties have agreed to observe secrecy about the purchase price. The transaction involves a cash amount, which is provided through a syndicated credit by Credit Suisse, Zürcher Kantonalbank and UBS, as well as 163,000 registered shares of Meyer Burger Technology Ltd out of the existing authorised share capital. The transaction is expected to be completed by September 2009.
For further information, please contact:
Werner Buchholz, Head of Group Communications
+41 33 439 05 06 - w.buchholz@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 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 employed more than 630 staff worldwide as of year end 2008.
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