July 9, 2020 / 3:54 PM / a month ago

BRIEF-Meyer Burger Technology To Establish Its Own Production Of Solar Cells And Solar Modules In Saxony-Anhalt And Saxony

July 9 (Reuters) - MEYER BURGER TECHNOLOGY AG:

* WANTS TO ESTABLISH ITS OWN PRODUCTION OF SOLAR CELLS AND SOLAR MODULES IN SAXONY-ANHALT AND SAXONY

* HAS CHOSEN LOCATIONS IN “SOLAR VALLEY” IN BITTERFELD-WOLFEN (SAXONY-ANHALT) AND IN FREIBERG (SAXONY) TO START ITS OWN SOLAR CELL AND MODULE PRODUCTION

* IN ADDITION, MEYER BURGER IS ACQUIRING MODERN LOGISTICS AND DISTRIBUTION CENTRE (14,000 SQUARE METRES) AT FORMER SOLARWORLD SITE IN FREIBERG

* PARTIES HAVE AGREED WITH INSOLVENCY ADMINISTRATOR, CHRISTOPH NIERING, NOT TO DISCLOSE PURCHASE PRICE

* CAPACITIES FOR START OF PRODUCTION IN FIRST HALF OF 2021 WILL BE 400 MW PER YEAR IN SOLAR CELL PRODUCTION AND 400 MW IN MODULE PRODUCTION

* DEVELOPMENT OF TWO LOCATIONS BY MEYER BURGER REQUIRES SUCCESSFUL IMPLEMENTATION OF PLANNED ORDINARY CAPITAL INCREASE ANNOUNCED ON 19 JUNE 2020, WITH TARGETED GROSS PROCEEDS OF CHF 165 MILLION

* TRANSACTION IS EXPECTED TO BE COMPLETED BY END OF JULY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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