1.Consultation procedure at Meyer Burger which opened on 2 November 2017 was completed on 28 November 2017
2.Proposals submitted by the Employee Representatives were examined in-depth by the Executive Board and a response delivered
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced a cost efficiency programme on 2 November 2017 which included plans to discontinue all manufacturing activities in Thun by the end of 2018. In connection with this announcement, the company also opened the corresponding consultation procedure on 2 November 2017 which offered employees the opportunity to express their views and proposals to the plans.
Constructive dialogue between Employee Representatives and Executive Board
Throughout the consultation procedure, the Executive Board and the Employee Representatives maintained an active, respectful dialogue. The Employee Representatives had until 28 November 2017 to prepare and submit a written report of their proposals. The Executive Board examined all proposals in-depth and delivered their final response to the Employee Representatives and the Canton of Bern on 6 December 2017. The employees were informed of the results on 7 December 2017 by Meyer Burger CEO Hans Brändle and by the President of the Employee Representatives, Martin Fischer.
Reduction in affected positions
Of the up to 180 affected positions in manufacturing, logistics, purchasing and production planning which were communicated on 2 November 2017, around 160 have been confirmed. Of these, approximately 100 are definitely affected and around 60 further positions are dependent upon the results of various strategic alternatives. Successful solutions are also being arranged for the 26 apprentices who are affected.
Implementation during the next 15 months
Following completion of the consultation procedure, all employees can be informed of the next definite steps in the process which will be implemented in the next 15 months. Meyer Burger expects most of the transformation to be completed by the end of 2018.
About Meyer Burger Technology Ltd
Meyer Burger is a leading global technology company specialising on innovative systems and processes based on semiconductor technologies. The company’s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. Over the past ten years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies.
Meyer Burger’s offering in systems, production equipment and services along the photovoltaic value chain includes the manufacturing processes for wafers, solar cells, solar modules and solar systems. Meyer Burger provides substantial added value to its customers and clearly differentiates itself from its competitors by focusing on core technologies of the value chain.
The company’s comprehensive product portfolio is complemented by a worldwide service network with spare parts, consumables, process know-how, customer support, after-sales services, training and other services. Meyer Burger is represented in Europe, Asia and North America in the respective key markets and has subsidiaries and own service centres in China, Germany, India, Japan, Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. The company is also working intensively to develop new markets such as South America, Africa and the Arab region. The registered shares of Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange (Ticker: MBTN).
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.
This press release may contain “forward-looking statements”, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this press release are based on data available to Meyer Burger Technology Ltd as of the date that this press release is published. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.