December 18 (Renewables Now) - Swiss solar technology firm Meyer Burger Technology AG (SWX:MBTN) announced today it will close its Zuelpich production site in Germany by mid-2020 and lay off around 60 employees there.
The company said in a statement that Hennecke-branded systems for optical measuring and testing technologies for industrial manufacturing will be produced entirely at its Hohenstein-Ernstthal site in the future, using own resources.
CEO Hans Braendle explained the decision to discontinue production in Zuelpich with the unattractive margins in the photovoltaic (PV) standard business, especially in the Chinese market. “Further consolidating our production capacities in Hohenstein-Ernstthal allows us to continue to increase efficiency and strengthen our competitiveness,” he added.
The move will bring restructuring costs of about CHF 7 million (USD 7.1m/EUR 6.4m) for 2019, including CHF 3 million that will affect cash flow in 2020, according to the announcement.
(CHF 1.0 = USD 1.019/EUR 0.915)