Meyer Burger plans no fundraising initiatives - report

Nov 3, 2014 - Swiss solar machinery maker Meyer Burger Technology AG (SWF:MBTN) has no fundraising plans following its CHF-100-million (USD 104m/EUR 83m) bond offering in September, its head told the Finanz und Wirtschaft on Saturday.

Through its most recent financing initiative, the company aimed to provide funds for investment in demonstrational equipment and general corporate needs. It came after in March Meyer Burger raised CHF 77.8 million in a capital increase necessitated by big losses in 2013.

Asked about the solar market environment, CEO Peter Pauli told the newspaper that Meyer Burger sees some signs of recovery after the solar equipment glut, but it still remains cautious. The Swiss firm has not posted a profit since the first half of 2011 and suffered from a huge drop in orders in 2012.

In August, Meyer Burger said its sales for the first half of 2014 had jumped by 43% year-on-year to CHF 129 million, but still saw its net loss widen to CHF 88 million from CHF 80.6 million.

(CNF 1.0 = USD 1.039/EUR 0.829)

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