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    Breaking News

    Meyer Burger Divests Muegge GmbH

    Sells manufacturer for microwave and plasma systems to HQ Equita.

    Related CONTENT
    • Jürgen Schiffer Appointed Meyer Burger CFO
    • Meyer Burger Technology Ltd Reports 1H 2020 Results
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    • Meyer Burger Shareholders Approve Capital Increase
    • Meyer Burger Wants to Establish Solar Cell, Solar Module Production in Saxony-Anhalt, Saxony
    Printed Electronics Now Staff08.10.20
    Meyer Burger Technology Ltd. announced the sale of Muegge GmbH, its microwave and plasma technology company headquartered in Reichelsheim, Germany, to the direct  investment company HQ Equita.

    HQ Equita will acquire all of Muegge GmbH's business division, including its subsidiary Gerling Applied Engineering Inc. based in Modesto CA, as well as its approximately 100 employees.

    This is subject to customary market conditions and must still be approved by the authorities in Germany. The transaction is expected to be completed towards the end of September 2020.

    Meyer Burger expects a cash inflow of approximately CHF 24 million and a book profit of approximately CHF 4 million from the transaction. The contract additionally includes an earn-out of CHF 2.5 million in 2022 based on agreed financial targets in 2021.

    As part of its focus on the transformation of Meyer Burger into a manufacturer of solar cells and modules, the company has decided to sell the non-strategic business unit.

    HQ Equita is part of the Harald Quandt-Group, based in Bad Homburg.

    “Muegge, as a technologically driven company with a strong position in its niche market, is an ideal match for HQ Equita. With its dynamic management team and leading R&D and engineering capabilities, the company is ideally positioned to serve a growing range of applications in international markets," said Frank Schäfer, partner with HQ Equita.
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    Related Breaking News

    • Breaking News | Manufacturing | Personnel | Photovoltaics
      Jürgen Schiffer Appointed Meyer Burger CFO

      Jürgen Schiffer Appointed Meyer Burger CFO

      Responsibilities include transforming the existing structures and aligning reporting with Meyer Burger's new business model.
      Printed Electronics Now staff 09.28.20

    • Breaking News | Financial News | Manufacturing | Photovoltaics
      Meyer Burger Technology Ltd Reports 1H 2020 Results

      Meyer Burger Technology Ltd Reports 1H 2020 Results

      Transforms business model from machine supplier to vertically integrated cell and module manufacturer.
      Printed Electronics Now Staff 08.14.20

    • Breaking News | Manufacturing | Photovoltaics
      Meyer Burger Secures New Locations for Solar Cell, Solar Module Production

      Meyer Burger Secures New Locations for Solar Cell, Solar Module Production

      Creditors' meeting of Solarworld Industries GmbH approved sale of the buildings at Solarworld's former production site in Freiberg (Saxony) for €12 million.
      Printed Electronics Now staff 08.04.20


    • Breaking News | Manufacturing | Photovoltaics
      Meyer Burger Shareholders Approve Capital Increase

      Meyer Burger Shareholders Approve Capital Increase

      A condition for the implementation of the capital increase is that gross proceeds of at least CHF 150 million are generated.
      Printed Electronics Now staff 07.14.20

    • Breaking News | Manufacturing | Photovoltaics
      Meyer Burger Wants to Establish Solar Cell, Solar Module Production in Saxony-Anhalt, Saxony

      Meyer Burger Wants to Establish Solar Cell, Solar Module Production in Saxony-Anhalt, Saxony

      Production to start in the first half of 2021 with 400 MW solar cells and 400 MW solar modules, expansion to 5 GW planned.
      Printed Electronics Now staff 07.13.20

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