Manz delays Capital Markets Day

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Due to ongoing weak performance in its solar equipment segment, Manz was expected to announce the sale or restructure of its solar business unit this week, at its Capital Markets Day event. This has now been postponed due to “ongoing” assessment of the business unit.

Manz has been attempting to find a buyer for its CIGSFab turnkey line for some years, and had previously reported that one of the thin film lines was close to finding a buyer. This has not eventuated and the costs the Manz solar segment was incurring has resulted in the company restructuring or seeking a strategic investor for the segment.

It was anticipated that this would be revealed this week a its Capital Markets Day, but this has now been suspended.

Manz informed prospective event attendees today: “In the course of a Capital Markets Day early 2016 the Management Board of Manz AG will inform comprehensively about the measurements of the restructuring program and the company’s realignment.”