Precision Surfacing Solutions (PSS) To Acquire Wafering Division of Meyer Burger Technology Ltd.

MOUNT PROSPECT, Ill.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/lapmaster?src=hash” target=”_blank”gt;#lapmasterlt;/agt;–Precision Surfacing Solutions (formerly Lapmaster Wolters Group), a
leading global supplier of equipment and services for precision lapping,
polishing, grinding, and honing, announced today that it will acquire
the photovoltaic and specialized substrate material (for semiconductor
and sapphire industries) wafering equipment and service business of
Meyer Burger (based in Thun, Switzerland).


Brian Nelson, Chief Executive Officer of PSS: “The acquisition of Meyer
Burger’s wafering technology portfolio will further enable us to
strengthen and grow our activities in our key markets, particularly in
the semiconductor and consumer electronic segments. Our cutting edge
Peter Wolters AC microLine technology (produced in Rendsburg, Germany)
is already utilized by leading substrate wafer manufacturers and we feel
that the addition of the MB wafering line will enable significant cross
selling opportunities with our existing customer base and also provide
the opportunity to offer unrivaled global service and technical support.

PSS intends to use the know-how of Meyer Burger’s local workforce and to
continue product development as well as manufacturing activities in
non-PV wafering applications in Thun (Switzerland), where it has entered
into a long-term rental agreement with Meyer Burger. Activities for
production of photovoltaic wafering systems will remain in China. PSS
will further maintain global service support for all current and future
wafering customers worldwide. PSS will take over around 70 employees at
the Thun location and an additional 26 globally. PSS Group Chief
Technical Officer, Brett Rosenthal, further commented: “The acquisition
of Meyer Burger provides PSS Group with a number of talented engineering
and technical employees. I look forward to them joining my global
engineering team and leveraging their expertise within the Group.”

Hans Brändle, CEO of Meyer Burger: “Although Meyer Burger grew from its
roots in the wafering industry, our main focus today is on PV cell
coating and module connection technologies. As the new owner of our
wafering portfolio and with its presence in the semiconductor industry,
PSS is ideally positioned to fully maximize the synergies with our
wafering technologies. I am very pleased that with PSS as the new owner,
we have found a solution that is advantageous for both parties while at
the same time securing both jobs and technology know-how in Thun.”

Completion of the acquisition is subject to standard closing conditions.
The closing of the transaction is expected to be completed towards the
end of the first quarter of 2019. The agreed purchase price is CHF 50
million in cash, which represents the approximate one-time net sales of
the wafering equipment business. The contract also includes an earn-out
component based on certain revenue levels in 2019. Both Meyer Burger and
PSS view the transaction as an important strategic milestone, which will
further strengthen two global technology leaders.

Kelly Cavitt, Group Chief Financial Officer of PSS: added “We are
excited to have reached final terms with Meyer Burger and feel that this
acquisition is a win for both organizations. The addition of the
wafering equipment business provides PSS with yet another well respected
precision technology and further strengthens the long term financial
outlook for the Group.”

Precision Surfacing Solutions has solved the most challenging precision
surfacing problems. With hundreds of years of experience within each of
our brands, PSS has a proven history of successfully developing cost
effective processing solutions for virtually any application.

About Precision Surfacing Solutions (PSS)

PSS is a global industry leader in the development of technology to
produce micron accuracy surface finishes. Under the well recognized
Lapmaster, Peter Wolters, ELB, aba, MICRON, REFORM, and KEHREN brands,
PSS has a proven history of successfully developing cost effective
processing solutions for the lapping, polishing, fine grinding, brush
deburring, creep feed grinding, bore honing, double disc grinding,
buffing through an expanding network of sales and services offices
located throughout the world. The Company’s 9,000+ active global
customers utilize precision abrasive finishing technology for various
end-user precision finishing applications. PSS is headquartered in Mt.
Prospect, IL, employing over 900 people across thirteen manufacturing
facilities on three continents. For more information, visit http://www.precision-surface.com.

About Meyer Burger Technology Ltd

Meyer Burger is a leading global technology company specializing in
innovative systems and processes based on semiconductor technologies.
The company’s focus is on photovoltaics (solar industry) while its
competencies and technologies also cover important areas of the
semiconductor and the optoelectronic industries as well as other
selected high-end markets based on semiconductor materials. As an
international premium brand, Meyer Burger offers its customers in the PV
industry superior products and innovative solutions for the
manufacturing processes of wafers, solar cells and solar modules. The
company provides substantial added value to its customers and clearly
differentiates itself from its competitors by focusing on core
technologies of the value chain. Meyer Burger’s comprehensive product
portfolio is complemented by a worldwide service network with spare
parts, consumables, process know-how, customer support, after-sales
services, training and other services. Meyer Burger is represented in
Europe, Asia and North America in the respective key markets and has
subsidiaries and own service centers in China, Germany, India, Japan,
Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the
USA. The company is also working intensively to develop new markets such
as South America, Africa and the Arab region. The registered shares of
Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange
(Ticker: MBTN). For more information, visit www.meyerburger.com.

Contacts

Kelly Cavitt
Chief Financial Officer
Precision
Surfacing Solutions (Formerly Lapmaster Wolters Group)

501 W
Algonquin Road

Mount Prospect, IL 60056
Phone:
1-224-659-7105

k.cavitt@lapmaster-wolters.com
http://www.precision-surface.com

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