Meyer Burger reaches agreement with photovoltaic manufacturer EcoSolifer

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) and Ecosolifer Ltd have agreed to draw a line under a project from 2015. The 2015 contract included the delivery of an earlier generation heterojunction cell line for the manufacturing plant in Csorna, Hungary. Ecosolifer, on its own initiative, had temporarily suspended the project and therefore the planned acceptance could not be completed in 2016. Meyer Burger had to store the equipment for a longer period of time. After the resumption of the project, the plant could be put into operation despite difficult conditions and has now been finally accepted by Ecosolifer under a settlement agreement. Meyer Burger will continue to provide services for Ecosolifer.

In accordance with the agreement, Ecosolifer will make an advance payment of CHF 0.89 million. In return, Meyer Burger will make an impairment charge of CHF 2.86 million for 2020 on the installations from 2015. As a result, this transaction will result in a net loss of CHF 1.97 million and a net cash inflow of CHF 0.89 million.

For Meyer Burger, the closing of this chapter is a further step to free itself from its past and to concentrate on the new captive business model and to enter into the solar cell and module production itself.

Über die Meyer Burger Technology AG

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).

Firmenkontakt und Herausgeber der Meldung:

Meyer Burger Technology AG
Schorenstrasse 39
CH3645 Gwatt (Thun)
Telefon: +41 (33) 2212800
Telefax: +41 (33) 2212808
http://www.meyerburger.com

Ansprechpartner:

Andreas Durisch
Senior Partner
Telefon: +41 (79) 35887-32
E-Mail: adu@dynamicsgroup.ch

Anne Schneider
Head Corporate Communications
Telefon: +49 37236712235
E-Mail: anne.schneider@meyerburger.com

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