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Meyer Burger signs USD-102m HJT core equipment contract

Image by Meyer Burger (www.meyerburger.com).

July 22 (Renewables Now) - Swiss solar industry supplier Meyer Burger Technology AG (SWX:MBTN) has inked a major framework contract totalling CHF 100 million (USD 101.8m/EUR 90.8m) for the supply of its Heterojunction (HJT) core equipment.

The agreement was signed with a North America-based solar cell manufacturing start-up, whose name was not disclosed. Meyer Burger noted that this company was founded by solar industry veterans and that the contract will become effective once the start-up closes a financing round.

The Swiss group anticipates to recognise the order intake with the contractual down payment at the start of this year’s final quarter.

Also today, Meyer Burger reported "disappointing" preliminary results for the first half of 2019, including January-June 2019 orders of about CHF 94 million. The total order backlog amounted to CHF 166 million as of end-June 2019.

(CHF 1.0 = USD 1.019/EUR 0.908)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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