Meyer Burger sells its wafering business to Precision Surfacing Solutions
Post date: 07/02/2019 - 20:14
Swiss Meyer Burger Technology Ltd will sell its photovoltaic and specialized materials (e.g. semiconductor and sapphire glass industries) wafering equipment and service business to Precision Surfacing Solutions (PSS), supplier of equipment and services for surface enhancement technology. As part of the transaction, significant parts of Meyer Burger’s current production facilities in Thun as well as around 100 employees involved in the wafering technology portfolio in Thun and the relevant service locations worldwide will also be transferred to PSS.
The closing of the transaction is expected to be completed towards the end of the first quarter of 2019. The agreed purchase price is CHF 50 million ($49 million), which represents approximately one times net sales of the wafering equipment business. »Although Meyer Burger grew from its roots in the wafering industry, our main focus today is on PV cell coating and module connection technologies,« says Hans Brändle, CEO of Meyer Burger.
PSS is headquartered in Mt. Prospect, Illinois, USA, employing over 900 people across 13 manufacturing facilities on three continents. The company intends to use the know-how of Meyer Burger’s local workforce and to continue product development as well as manufacturing activities in non-PV wafering applications in Thun, where it has entered into a long-term rental agreement with Meyer Burger. Production activities for photovoltaic wafering will remain in China. PSS will further maintain global service support for all current and future wafering customers worldwide, and will take over around 70 employees at its Thun location and around an additional 30 globally.
The Thun manufacturing location, which is owned by Meyer Burger, is now fully occupied and includes long-term leasing contracts with Precision Surfacing Solutions as well as with Swiss 3S Solar Plus AG, which bought the Meyer Burger’s Solar Systems business in May 2018 (»Energy Systems« unit with the »Megaslate« solar roof and facade system). 3S CEO Patrick Hofer-Noser was a founding member and later Delegate of the Board of Directors and Chief Executive Officer of 3S Industries AG, in Lyss/Switzerland, which merged into Meyer Burger Group in 2010. Thereafter he was Chief Technology Officer and member of the Executive Board of Meyer Burger Group until 2012. From April 2012 until April 2017, Patrick Hofer-Noser was Head of Energy Systems and until he left Meyer Burger in December 2017 he held the position of Policy Liaison Officer.