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Ad hoc news News vom 30.07.2015

Meyer Burger further optimises cost structure and production capacity at its technology location DMT in Colorado Springs, USA
 
Meyer Burger
 

Press Release

Thun, 30 July 2015

 

Meyer Burger further optimises cost structure and production capacity at its technology location DMT in Colorado Springs, USA

 

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that the company is further optimising the cost structure and production capacity at its Technology and Product Centre (TPC) Diamond Materials Tech, Inc. (DMT), in Colorado Springs, USA. With this further restructuring and focussing measure, DMT is responding to the strong continuing global pressure on prices and margins for diamond wire volume production in the photovoltaic industry. In future, the development and production of diamond wire solutions will be increasingly focussed on highly specialised applications outside of the PV industry.

 

This strategic decision and the subsequently implemented measures will lead to a workforce reduction of 46 employees at the TPC site in Colorado Springs. Through this and earlier steps taken in Colorado Springs, the operating cost base will decrease by more than USD 6 million in the 2016 financial year compared to the level at the beginning of 2015. With an optimised cost structure which has been adjusted to reflect its business volume, DMT will be able to return to sustainable profitability.

 

The measure will lead to a one-time non-cash write-off of technology and production equipment in the order of USD 16.9 million, which will be charged to the income statement 2015.

 

 

Contact:

 

Ingrid Carstensen

Corporate Communications

Phone +41 (0)33 221 28 34

ingrid.carstensen@meyerburger.com