Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Meyer Burger Divests Non-PV Related Diamond Wire Business to Thermocompact Group - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Meyer Burger Divests Non-PV Related Diamond Wire Business to Thermocompact Group

Thermocompact Group has expertise in precious metals coating, high technology wire.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

On March 1, 2017, Meyer Burger Technology Ltd. announced its decision to discontinue the proprietary wire production for diamond wire at Diamond Materials Tech Inc. (DMT) in Colorado Springs, CO. Meyer Burger has signed a binding asset purchase agreement with Thermocompact Group now, which will acquire the remaining DMT business for an amount of about $6 million in cash.
 
The closing of the transaction is expected by mid-December 2017. As a result of this transaction, about 25 employees will be transferred to Thermocompact Group. The diamond wire business previously serving PV-related applications has already been closed by Meyer Burger during the first half-year of 2017.
 
Thermocompact Group has dedicated expertise in precious metals coating, high technology wire for EDM applications and fixed abrasive highly technical engineered wires for photovoltaic, electronic and LED industries. The company serves various fields of industries such as automotive, aeronautics, space, connectors, medical and precision cutting.  www.thermocompact.com
  
“As we had already announced the discontinuation of our diamond wire business in Colorado Springs in March 2017, we are pleased that we found a good industrial solution for the non-PV oriented business now, with the sale of these activities to Thermocompact,” Hans Brändle, CEO at Meyer Burger, said.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters