May 1 (Renewables Now) - Swiss solar industry supplier Meyer Burger Technology AG (SWX:MBTN) said Tuesday it has finalised the sale of its photovoltaic (PV) and specialised materials wafering equipment and service business.
As announced in February, the buyer is US-based Precision Surfacing Solutions (PSS). The acquisition consideration amounts to CHF 50 million (USD 49m/EUR 43.9m) and includes an earn-out component based on certain revenue levels in 2019.
The wafering business serves the PV, semiconductor and sapphire glass industries. The sale reflects Meyer Burger’s plan to focus mainly on its cell and module technologies and especially on its Heterojunction and SmartWire Connection Technology (SWCT).