Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces that it has entered into a Preferred Partnership Agreement (PPA) with Mondragon Assembly Group, a global specialist in the development of automation and assembly solutions and an internationally recognized producer of equipment for the manufacture of solar modules. Both Meyer Burger and Mondragon view this as an important strategic milestone which further strengthens two global technology leaders in the PV module market.
Mondragon Assembly is part of the Mondragon Group, a leading global industrial company, and it specializes in the development of automation and assembly solutions and the manufacturing of equipment in a wide range of industries. Mondragon Assembly produces machinery for PV systems including core equipment for solar module production and it is also a leading integrator and international turnkey contractor for module lines.
With its expertise in integration and contract manufacturing, Mondragon is ideally positioned as outsourcing partner for the production of equipment for Meyer Burger’s SmartWire Connection Technology. The preferred partnership agreement enables Meyer Burger to benefit from Mondragon’s international manufacturing network and established supply chain. For Mondragon, it is an opportunity to produce manufacturing equipment for the most cost effective cell connection technology on the market today both for mono- und multi-crystalline solar cells. According to the agreement, Mondragon will start production of SWCT™ equipment for Meyer Burger at the latest by end of the fourth quarter 2018. At that time, Meyer Burger will cease its own manufacturing of SWCT™ equipment at its production site in Thun, but will continue to drive Research & Development as well as marketing and sales of the SWCT™ technology going forward. Patents, marketing and all sales activities regarding SWCT™ will continue to be managed by Meyer Burger.
Luis Mari Imaz, CEO of Mondragon Assembly commented, “We strongly believe that our partnership with Meyer Burger will be of mutual benefit to both companies. We are excited about the working together with such a recognized solar technology leader.”
Daniel Lippuner, COO of Meyer Burger Technology Ltd, stated, “Collaboration with Mondragon with their strong experience in contract manufacturing and automation ideally complements our in-depth PV module equipment expertise. By outsourcing the production of our SWCT™ equipment to Mondragon, we are able to benefit from their flexible, cost-competitive manufacturing structure. This will help us to expedite the industrialization of our innovative SmartWire Connection Technology.”
About Mondragon Assembly
www.mondragon-assembly.com
Mondragon Assembly is an international group specializing in the development of automation and assembly solutions. The Group currently has six production plants in Spain, Mexico, France, Germany, China and Brazil, and a subsidiary in India. We also have a strategic network of commercial offices in leading world economies.
Mondragon Assembly is a recognized producer of equipment for the manufacture of solar panels. The company designs and provides turnkey production lines and machinery for photovoltaic systems. Mondragon Assembly has been providing innovative manufacturing technology for more than fifteen years.
It offers a wide range of services around the solar panel manufacturing industry, including product design advise, raw materials selection, panel certifying with fast-track, production ramp-up support, personnel training and know-how transfer.
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.
This press release may contain “forward-looking statements”, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this press release are based on data available to Meyer Burger Technology Ltd as of the date that this press release is published. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Mondragon Assembly is part of the Mondragon Group, a leading global industrial company, and it specializes in the development of automation and assembly solutions and the manufacturing of equipment in a wide range of industries. Mondragon Assembly produces machinery for PV systems including core equipment for solar module production and it is also a leading integrator and international turnkey contractor for module lines.
With its expertise in integration and contract manufacturing, Mondragon is ideally positioned as outsourcing partner for the production of equipment for Meyer Burger’s SmartWire Connection Technology. The preferred partnership agreement enables Meyer Burger to benefit from Mondragon’s international manufacturing network and established supply chain. For Mondragon, it is an opportunity to produce manufacturing equipment for the most cost effective cell connection technology on the market today both for mono- und multi-crystalline solar cells. According to the agreement, Mondragon will start production of SWCT™ equipment for Meyer Burger at the latest by end of the fourth quarter 2018. At that time, Meyer Burger will cease its own manufacturing of SWCT™ equipment at its production site in Thun, but will continue to drive Research & Development as well as marketing and sales of the SWCT™ technology going forward. Patents, marketing and all sales activities regarding SWCT™ will continue to be managed by Meyer Burger.
Luis Mari Imaz, CEO of Mondragon Assembly commented, “We strongly believe that our partnership with Meyer Burger will be of mutual benefit to both companies. We are excited about the working together with such a recognized solar technology leader.”
Daniel Lippuner, COO of Meyer Burger Technology Ltd, stated, “Collaboration with Mondragon with their strong experience in contract manufacturing and automation ideally complements our in-depth PV module equipment expertise. By outsourcing the production of our SWCT™ equipment to Mondragon, we are able to benefit from their flexible, cost-competitive manufacturing structure. This will help us to expedite the industrialization of our innovative SmartWire Connection Technology.”
About Mondragon Assembly
www.mondragon-assembly.com
Mondragon Assembly is an international group specializing in the development of automation and assembly solutions. The Group currently has six production plants in Spain, Mexico, France, Germany, China and Brazil, and a subsidiary in India. We also have a strategic network of commercial offices in leading world economies.
Mondragon Assembly is a recognized producer of equipment for the manufacture of solar panels. The company designs and provides turnkey production lines and machinery for photovoltaic systems. Mondragon Assembly has been providing innovative manufacturing technology for more than fifteen years.
It offers a wide range of services around the solar panel manufacturing industry, including product design advise, raw materials selection, panel certifying with fast-track, production ramp-up support, personnel training and know-how transfer.
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.
This press release may contain “forward-looking statements”, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this press release are based on data available to Meyer Burger Technology Ltd as of the date that this press release is published. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
