Meyer Burger Completes Wafer Business Sale

Switzerland’s Meyer Burger Finishes Divestment Of Wafer Business With Buyer Precision Surfacing Solutions Paying Up CHF 50 Million ($50 Million)
12:28 AM (Beijing Time) - 03. May 2019
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Swiss PV equipment supplier Meyer Burger Technology Ltd. has completed the divestment of its interest in the wafer business as announced in February 2019. (picture source: Meyer Burger)

Key Takeaways

  • As first announced in February 2019, Meyer Burger has now completed the sale of its wafering business
  • Precision Surfacing Solutions is now the new owner of the business which includes semiconductor, sapphire glass industries, wafering equipment and service business
  • The deal was finalized for CHF 50 million ($50 million) in cash, comprising an earn-out component based on certain revenue levels in 2019

Meyer Burger Technology Ltd., the PV equipment producer from Switzerland, has completed the divestment of its interest in the wafer business as announced in February 2019 (see Meyer Burger Sells Wafering Business). The business comprises semiconductor, sapphire glass industries, wafering equipment and service business.

The buyer, surface enhancement technology company Precision Surfacing Solutions (PSS) from the US agreed on a payment of CHF 50 million ($50 million) in cash. It also includes an earn-out component based on certain revenue levels in 2019. PSS will also get significant parts of Meyer Burger’s production facilities in Thun, Switzerland and some 100 employees and relevant locations globally.

With this divestment, the Swiss company has freed up resources to be utilized on its cell and module technology business. In March, Meyer Burger announced it will mass produce British start-up Oxford PV’s perovskite solar cells on silicon heterojunction (HJT) tandem cells, under a strategic and exclusive cooperation agreement signed between the two companies. At the same time, an investment in Oxford PV has made Meyer Burger the largest shareholder (see Meyer Burger Major Shareholder of Oxford PV).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani