Meyer Burger is going from strength to strength in 2017, with the announcement today of CHF 19 million (€17.7 million) of order from three different Asian customers. On top of that, the High Court of the Canton of Berne has also approved amendments of the conditions of the company’s convertible bonds, which is one of the aspects of the major recapitalization process being undertaken by Meyer Burger.
The three orders are for Meyer Burger’s MB PERC upgrade cell technology, SiNA cell coating system and DW 288 diamond wire cutting equipment, which are used for the manufacturing of solar wafers and cells, helping to increase the efficiency and quality of their products. The order is from three Asian customers, and is for the delivery and commissioning of the equipment, which is set to begin in the second quarter of 2017.
Meyer Burger has enjoyed a sudden influx of orders in 2017 for its PV manufacturing equipment. These are now the fourth, fifth and sixth significant orders of 2017, which suggests that the company is set to have a business year, as it positions itself as one of the leading equipment suppliers in the industry.
In addition to the influx of orders, the company has also, so far, enjoyed a smooth recapitalization process. The company initiated the recapitalization last year, and had already attracted the full CHF 160 million capital increase that it had set out to achieve by the end of 2016. These funds came from a number of new and existing investors.
Now, the High Court of the Canton of Berne has also approved the resolutions of the bondholders’ meeting regarding the amendments of the conditions for the CHF 100 million convertible bonds, due 2020. This includes the removal of the possibility for bondholders to request an early redemption, the increase of the coupon and the reduction of the conversion price.