Printed Electronics Now staff12.10.20
Meyer Burger Technology Ltd and Ecosolifer Ltd have agreed to draw a line under a project from 2015.
The 2015 contract included the delivery of an earlier generation heterojunction cell line for the manufacturing plant in Csorna, Hungary.
Ecosolifer, on its initiative, had temporarily suspended the project and therefore the planned acceptance could not be completed in 2016.
Meyer Burger had to store the equipment for a longer period.
After the resumption of the project, the plant could be put into operation despite difficult conditions and has now been finally accepted by Ecosolifer under a settlement agreement.
Meyer Burger will continue to provide services for Ecosolifer.
In accordance with the agreement, Ecosolifer will make an advance payment of CHF 0.89 million.
In return, Meyer Burger will make an impairment charge of CHF 2.86 million for 2020 on the installations from 2015.
As a result, this transaction will result in a net loss of CHF 1.97 million and a net cash inflow of CHF 0.89 million.