© kritchanut dreamstime.com
Business | February 08, 2019
PSS to acquire wafering division of Meyer Burger
Precision Surfacing Solutions (formerly Lapmaster Wolters Group), says that the company will acquire the photovoltaic and specialised substrate material (for semiconductor and sapphire industries) wafering equipment and service business of Meyer Burger.
“The acquisition of Meyer Burger’s wafering technology portfolio will further enable us to strengthen and grow our activities in our key markets, particularly in the semiconductor and consumer electronic segments,” says Brian Nelson, Chief Executive Officer of PSS, in a press release.
“Our cutting edge Peter Wolters AC microLine technology (produced in Rendsburg, Germany) is already utilized by leading substrate wafer manufacturers and we feel that the addition of the MB wafering line will enable significant cross selling opportunities with our existing customer base and also provide the opportunity to offer unrivaled global service and technical support,” Nelson adds.
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, Switzerland, where it has entered into a long-term rental agreement with Meyer Burger. Activities for production of photovoltaic wafering systems will remain in China. PSS will take over around 70 employees at the Thun location and an additional 26 globally.
“Although Meyer Burger grew from its roots in the wafering industry, our main focus today is on PV cell coating and module connection technologies. As the new owner of our wafering portfolio and with its presence in the semiconductor industry, PSS is ideally positioned to fully maximize the synergies with our wafering technologies. I am very pleased that with PSS as the new owner, we have found a solution that is advantageous for both parties while at the same time securing both jobs and technology know-how in Thun.” says Hans Brändle, CEO of Meyer Burger.
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 (EUR 44 million) in cash, which represents the approximate one-time net sales of the wafering equipment business.
congatec signs sales partnership with Fortec
congatec has signed a sales partnership with Fortec. The goal is to expand the market...
TSMC details impact of fab 14B photoresist material incident
TSMC is updating its first quarter 2019 guidance following the completion of the assessment...
Altran awarded large, multi-year deal by global semiconductor player
Altran, which provides engineering and R&D services (ER&D), says that the company...
IFT initiates patent litigation against TI, VW, Ford and Cisco
Innovative Foundry Technologies (IFT) says that it has initiated patent litigation in China...
Pulse is now a part of the Yageo Corporation Group
Taiwanese electronic component manufacturing, Yageo Corporation, announced...
Lattice names new corporate VP of worldwide sales
Lattice Semiconductor has appoinded Mark Nelson as the company’s Corporate Vice...
Smith Names Sean Evans as Chief Financial Officer
Electronic components and semiconductor distributor, Smith, has appointed Sean...
Astronics completes sale of semiconductor system level test technology
Astronics Corporation, a provider of technologies for the global aerospace, defense, and...
Osram Licht AG confirms talks with Bain Capital and Carlyle Group
Osram Licht AG is confirming the market rumours that Bain Capital and Carlyle Group are...
CIVINTEC acquires the Cidron RFID reader range from Nexus
CIVINTEC, a supplier of RFID products in the global OEM and ODM segment, is acquiring the...
Fraunhofer Institute goes with Veeco's ion beam sputtering technology
Veeco Instruments has shipped its SPECTOR Ion Beam Sputtering (IBS) system and the...
EIB provides a total of €80 million to Zumtobel Group
The European Investment Bank (EIB) is providing the Austrian lighting company Zumtobel...
Mayflex expands operations operations with new HQ
IT communications equipment company, Mayflex, is expanding its UK operations and relocating...
Sensata breaks ground on new $27 million expansion
Sensor manufacturer, Sensata Technologis, has broken ground on a new production and...
WiTricity acquires Qualcomm Halo
Wireless power technology player, WiTricity, announces the acquisition of certain technology platform and IP assets from Qualcomm Incorporated and Qualcomm Technologies, which will bring over 1'500 patents and patent applications...
C&K focuses on business expansion - appoints industry veteran as CRO
C&K, a supplier of electromechanical switches, has appointed Scott Smith as the...
PSS to acquire wafering division of Meyer Burger
Precision Surfacing Solutions (formerly Lapmaster Wolters Group), says that the company...
Another CEO at WĂĽrth Elektronik eiSos
WĂĽrth Elektronik eiSos GmbH & Co. KG announces that it has appointed Thomas Wild as CEO...
Report: Renesas to lay off 1’000 employees
The Japanese chipmaker is reportedly looking to reduce its workforce by almost 1’000 employees by the end of June, as the company is trying compensate for a shrinking domestic market.
ODU to expand in Korea
As of January 1, 2019 ODU has a new company carrying the ODU name in Korea. Kai...
Related news
Most Read
Load more news