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    MBTN   CH0108503795

MEYER BURGER TECHNOLOGY AG

(MBTN)
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EQS-Adhoc: Meyer Burger concentrates its service activities in Asia at the Shanghai and Singapore sites

07/26/2021 | 12:31am EDT
EQS Group-Ad-hoc: Meyer Burger Technology AG / Key word(s): Restructure of Company 
Meyer Burger concentrates its service activities in Asia at the Shanghai and Singapore sites 
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 
anne.schneider@meyerburger.com  adu@dynamicsgroup.ch ----------------------------------------------------------------------------------------------------------------------- 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:       mbtinfo@meyerburger.com 
Internet:     www.meyerburger.com 
ISIN:         CH0108503795 
Valor:        A0YJZX 
Listed:       SIX Swiss Exchange 
EQS News ID:  1221475 
 
End of Announcement EQS Group News Service 
=------------ 

1221475 26-Jul-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1221475&application_name=news 
 

(END) Dow Jones Newswires

July 26, 2021 00:30 ET (04:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.48% 34584.88 Delayed Quote.13.75%
MEYER BURGER TECHNOLOGY AG 2.03% 0.4924 Delayed Quote.43.29%
MSCI SINGAPORE (GDTR) 0.31% 6532.371 Real-time Quote.11.90%
MSCI TAIWAN (STRD) -0.22% 707.459 Real-time Quote.18.85%
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Financials
Sales 2021 92,4 M 99,1 M 99,1 M
Net income 2021 -65,5 M -70,2 M -70,2 M
Net cash 2021 65,0 M 69,7 M 69,7 M
P/E ratio 2021 -22,5x
Yield 2021 -
Capitalization 1 305 M 1 402 M 1 400 M
EV / Sales 2021 13,4x
EV / Sales 2022 5,13x
Nbr of Employees 800
Free-Float 89,4%
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Number of Analysts 7
Last Close Price 0,48 CHF
Average target price 0,62 CHF
Spread / Average Target 28,5%
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Managers and Directors
Gunter Erfurt Chief Executive & Technology Officer
Jürgen Schiffer Chief Financial Officer
Franz Richter Chairman
Andreas R. Herzog Non-Executive Director
Mark Kerekes Director
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