Meyer Burger Technology AG - Regulatory Filings 2021

News Details

Ad-hoc | 26 July 2021 06:30

Meyer Burger concentrates its service activities in Asia at the Shanghai and Singapore sites

Meyer Burger Technology AG / Key word(s): Restructure of Company

26-Jul-2021 / 06:30 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 LR

The issuer is solely responsible for the content of this announcement.

In Shanghai, Meyer Burger Trading Co. becomes the competence center for sales and service of high-precision metrology products of Meyer Burger's subsidiary Pasan in Asian markets.
In Singapore, services will continue to be provided for existing Asian customers of Meyer Burger.
Services for existing customers in Europe and the USA will continue to be provided from Meyer Burger's European and US locations

As part of the Meyer Burger's transformation into a manufacturer of high-performance solar modules, demand for the service business for existing customers of production equipment is decreasing as expected. Meyer Burger's board of directors has therefore decided to concentrate these activities at the Shanghai and Singapore locations going forward. The product portfolio of high-precision measurement technology products of Meyer Burger's subsidiary Pasan will continue to be marketed to customers worldwide. In Shanghai, Meyer Burger Trading Co. will become the competence center for Pasan sales and services in the Asian market. In Singapore, services for existing Asian customers of Meyer Burger will continue to be provided.

The existing sites in Taiwan, Korea and Malaysia will be closed and the Shanghai site will be downsized. In total, around 70 employees will be affected by the restructuring, with about 20 continuing to be employed at the two sites in Shanghai and Singapore. The employment of the affected employees will be terminated in accordance with the existing local agreements and in a socially responsible manner. Meyer Burger expects restructuring costs of around CHF 3.5 million and impairment charges of approximately CHF 1.1 million. The restructuring is expected to be completed by the end of 2021.

Services for existing customers in Europe and the USA will continue to be provided from Meyer Burger's European and US locations.

With this restructuring, Meyer Burger further optimizes its global organizational structure in alignment with its transformation into a manufacturer of high-performance solar modules and strengthens the company's future profitability.

Contacts:


Meyer Burger Technology AG	Dynamics Group AG
Anne Schneider	Andreas Durisch
Head Corporate Communications	Senior Partner
M. +49 174 349 17 90	T. +41 43 268 27 47
	M. +41 79 358 87 32
[email protected]	[email protected]

End of ad hoc announcement


Language:	English
Company:	Meyer Burger Technology AG
	Schorenstrasse 39
	3645 Gwatt
	Switzerland
Phone:	+41 033 221 28 00
E-mail:	[email protected]
Internet:	www.meyerburger.com
ISIN:	CH0108503795
Valor:	A0YJZX
Listed:	SIX Swiss Exchange
EQS News ID:	1221475