Manz AG Receives Further Planned Payment for CIGS Major Orders

08/20/2018 07:32:00 CEST Payment of approximately 67 million euros received in August 2018 – CIGSfab and CIGSlab project in the planned timeline – Follow-up orders expected if project continues successfully

Manz AG, a globally operating high-tech equipment manufacturer with an extensive technology portfolio, received another payment in the amount of approximately 67 million euros in connection with the CIGS major orders. With this payment, Manz AG has already received almost 197 million euros of the total of around 263 million euros since the start of 2017. The orders include a 44 MW CIGS research line (CIGSlab) as well as a 306 MW CIGS turnkey system (CIGSfab) for series production of CIGS thin-film solar modules. The CIGSfab was already launched with the groundbreaking in early 2018 in China. The current payment was received as agreed after additional contractually defined milestones were reached, and it allows the company to continue taking the next project steps within the planned time frame.

Eckhard Hörner-Marass, CEO of Manz AG, comments: "We are very optimistic that we will be able to continue moving forward on this challenging major order with determination and complete it successfully as planned. Our whole team is working ambitiously to complete the next upcoming milestones – if the project continues successfully, we expect follow-up orders from the first half of 2019 onwards."

Completion and acceptance of the CIGSlab and CIGSfab is scheduled for the middle of 2019.

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