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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.
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