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Closing of the sale of the microwave and plasma technology company Muegge GmbH

Published in: Solar, Press Releases, Renewable News

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces today the closing of the sale of the microwave and plasma technology company Muegge GmbH to the investment company HQ Equita, which was announced on 10 August 2020. HQ Equita, which is part of the Harald Quandt Group in Bad Homburg, Germany, will acquire all of Muegge GmbH's business divisions including its subsidiary Gerling Applied Engineering Inc. based in Modesto CA, USA, as well as its approximately 100 employees. As previously announced, the book profit will amount to approximately CHF 4 million. The contract also includes an earn-out of CHF 2.5 million, which is due the following year based on the agreed financial targets for 2021.

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