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

Editor, 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 ...

Continue reading this story and get 24/7 access to Ink World magazine for FREE


Already a subscriber? Sign in

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