Responding to capacity expansion push-outs and cancellations at solar wafer manufacturing customers, Meyer Burger Technology has set in motion temporary adjustments to equipment production at its subsidiary, MB Wafertec. However, Meyer Burger reiterated that its 2011 net sales and earnings remained on target.
Production of wire saw equipment is to be interrupted at MB Wafertec for a period of 3 weeks during November. The company said that it would reduce overtime hours and employees would take unused holiday time.
However, Meyer Burger noted that there was the possibility of implementing a reduction of working hours in December, based on how the market situation develops.
Solar wafer producers have been aggressively expanding capacity over recent years to meet booming demand and had struggled to keep-up due to long-lead times for equipment in comparison to cell and module equipment.
Prices for wafers had remained firm in the first quarter of 2011, while modules and cell process began falling rapidly. However, the situation changed since then and prices have fallen well over 50%, already forcing wafer producers such as PV Crystalox to cut production and jobs.
Meyer Burger reiterated that 2011 net sales would be in the region of CHF 1.2 billion and an EBITDA margin of between 23-25%. The company noted that the figures are excluding pro-rata results of Roth & Rau, which it recently acquired.
