New investment with contract of approximately CHF 12 million by important customer of Meyer Burger Freitag, 29. November 2013 - 06:00
Press Release
Thun, 29 November 2013
New investment with contract of approximately CHF 12 million by important customer of Meyer Burger
Meyer Burger has successfully concluded a follow-up contract for high precision wire sawing systems with one of its customers in the Asian market. The contract is for just over CHF 12 million and replaces a larger outstanding portion of an earlier order from the 2011 business year. The delivery of the newly ordered systems is planned for the end of 2013.
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that it has successfully concluded a follow-up contract with one of the company’s major Asian customers for the delivery of high precision slicing systems for solar wafers. During the 2011 business year, the customer had planned to expand its production capacities and concluded a very substantial order with Meyer Burger. During the years 2011 and 2012 more than half of the total contractual amount could be recognized as net sales through the income statement. As a result of the difficult market environment in the solar industry, the final phases of the customer’s expansion project were not realised.
New investments
As the market for solar modules begins to recover, the customer is once again investing in its production capacity and has ordered wire saws for over CHF 12 million. As part of the contract negotiations, it was agreed that this new contract replaces the outstanding deliveries remaining from the earlier contract. As a result, Meyer Burger Group will adjust its order backlog by CHF 46 million net.
Delivery by the end of 2013
The delivery of the systems is planned for the end of 2013. Meyer Burger views the renewed willingness by its customer to invest in production systems as a positive indication that the recovery of the photovoltaic market is continuing.
