Precision Surfacing Solutions (formerly Lapmaster Wolters Group) is a leading global supplier of equipment and services for precision lapping, polishing, grinding, and honing.

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."

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