EQS-Adhoc

Meyer Burger reaches agreement with photovoltaic manufacturer EcoSolifer

EQS Group-Ad-hoc: Meyer Burger Technology AG / Key word(s): Miscellaneous/Scheme of Arrangement Meyer Burger reaches agreement with photovoltaic manufacturer EcoSolifer  09-Dec-2020 / 17:56 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR The issuer is solely responsible for the content of this announcement. 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. 

Contact:

Meyer Burger Technology AG
Anne Schneider 
Head Corporate Communications
Tel [phone] | Mob [phone]
[e-mail]

Dynamics Group AG
Andreas Durisch, Senior Partner
Tel [phone] | Mob [phone]
[e-mail]

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End of ad hoc announcement

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Language:	English
Company:	Meyer Burger Technology AG
	Schorenstrasse 39
	3645 Gwatt
	Switzerland
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.meyerburger.com
ISIN:	CH0108503795
Valor:	A0YJZX
Listed:	SIX Swiss Exchange
EQS News ID:	1154122

End of Announcement	EQS Group News Service

1154122  09-Dec-2020 CET/CEST