Meyer Burger concentrates its service activities in Asia at the Shanghai and Singapore sites

• In Shanghai, Meyer Burger Trading Co. becomes the competence center for sales and service of high-precision metrology products of Meyer Burger's subsidiary Pasan in Asian markets.
• In Singapore, services will continue to be provided for existing Asian customers of Meyer Burger.
• Services for existing customers in Europe and the USA will continue to be provided from Meyer Burger's European and US locations

As part of the Meyer Burger's transformation into a manufacturer of high-performance solar modules, demand for the service business for existing customers of production equipment is decreasing as expected. Meyer Burger's board of directors has therefore decided to concentrate these activities at the Shanghai and Singapore locations going forward. The product portfolio of high-precision measurement technology products of Meyer Burger's subsidiary Pasan will continue to be marketed to customers worldwide. In Shanghai, Meyer Burger Trading Co. will become the competence center for Pasan sales and services in the Asian market. In Singapore, services for existing Asian customers of Meyer Burger will continue to be provided.

The existing sites in Taiwan, Korea and Malaysia will be closed and the Shanghai site will be downsized. In total, around 70 employees will be affected by the restructuring, with about 20 continuing to be employed at the two sites in Shanghai and Singapore. The employment of the affected employees will be terminated in accordance with the existing local agreements and in a socially responsible manner. Meyer Burger expects restructuring costs of around CHF 3.5 million and impairment charges of approximately CHF 1.1 million. The restructuring is expected to be completed by the end of 2021.

Services for existing customers in Europe and the USA will continue to be provided from Meyer Burger's European and US locations.

With this restructuring, Meyer Burger further optimizes its global organizational structure in alignment with its transformation into a manufacturer of high-performance solar modules and strengthens the company's future profitability.