COMÉRCIO&INDUSTRIA-MEYER BURGER

Terça, 11 Agosto 2020 21:16 | Actualizado em Segunda, 20 Novembro 2023 02:39

Meyer Burger divests manufacturer for microwave and plasma systems Muegge GmbH

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces today the sale of its microwave and plasma technology company Muegge GmbH, headquartered in Reichelsheim (GE), to the direct investment company HQ Equita. HQ Equita 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. Both companies signed a contract to this effect on 7 August 2020. This is subject to customary market conditions and must still be approved by the authorities in Germany. The transaction is expected to be completed towards the end of September 2020. Meyer Burger expects a cash inflow of approximately CHF 24 million and a book profit of approximately CHF 4 million from the transaction. The contract additionally includes an earn-out of CHF 2.5 million in 2022 based on agreed financial targets in 2021. The divestment of Muegge GmbH was already anticipated in the communicated guidance to achieve annual sales of CHF 400 million - CHF 450 million and an EBITDA margin of 25% - 30% within three years. [...]