Around 60 employees will be affected by the closure of the Zülpich site. Meyer Burger will offer the affected employees, some of whom have been with the company for many years, socially compatible solutions on the basis of the legal requirements. Meyer Burger expects restructuring costs of approximately CHF 7 million, which will be provided for in 2019 and of which CHF 3 million is expected to affect cashflow in 2020.
Hans Brändle, CEO Meyer Burger commented: "We are proud of our market-leading wafer inspection product and will continue to offer it to demanding customers. However, volumes and margins have fallen sharply in recent months. The decision to close the Zülpich site was therefore not taken lightly. However, Meyer Burger had to take this decisive step as part of the planned adjustment of the business model and as a result of the unattractive margins in the PV standard business, especially in the Chinese market, and after examining various strategic options. Further consolidating our production capacities in Hohenstein-Ernstthal allows us to continue to increase efficiency and strengthen our competitiveness."
Meyer Burger is a leading technology company with a global presence, specializing in innovative systems and production equipment for the photovoltaic (solar), semiconductor and optoelectronics industries. As an internationally renowned premium brand, Meyer Burger offers its customers in the PV industry dependable precision products and innovative solutions for the manufacture of high-efficiency solar cells and solar modules.
The comprehensive product range is complemented by a worldwide service network with spare and wearing parts, consumables, process know-how, maintenance and after-sales service, training courses and additional services. Meyer Burger is represented in the respective key markets in Europe, Asia and North America and has subsidiaries and its own service centers in China, Germany, India, Japan, Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. At the same time, the company is also intensively developing the new PV markets in South America, Africa and the Arab region. The registered shares in Meyer Burger Technology AG are listed on the SIX Swiss Exchange (ticker: MBTN).
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Meyer Burger Technology AG
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http://www.meyerburger.com
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