Manz AG: About 50% of total payments received since project start of CIGS major orders

Manz AG: About 50% of total payments received since project start of CIGS major orders

- Payment of about 43 million euros for CIGSfab received as scheduled in January 2018

- CIGSfab und CIGSlab projects continue on schedule

Reutlingen, January 25, 2018 - Manz AG, a worldwide high-tech equipment manufacturer with an extensive technology portfolio, received a payment in the amount of approximately 43 million euros in January 2018 in connection with the CIGS major orders. Since the start of the project in 2017, Manz AG has received in partial payments about 50% of the agreed total payments for the 44 MW CIGS R&D line (CIGSlab) and the 306 MW CIGS turnkey production line (CIGSfab) for series production of CIGS thin film solar modules. The payment received in January 2018 was made according to agreement, once contractually defined milestones in the completion of CIGSfab were successfully met.

Gunnar Voss von Dahlen, CFO of Manz AG, remarked: "The project's progress has been very satisfactory so far. We have been on schedule since the project got underway in mid-2017. The payment of about 43 million euros strengthens our liquidity and enables us to realize the next milestones in project completion on time. We have now received about 130 million euros, of a total of 263 million euros, from the CIGS major orders since the start of the project."

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

Company profile:

Manz AG - passion for efficiency

As one of the world's leading high-tech equipment manufacturers, Manz AG, based in Reutlingen, Germany, is a pioneer for innovative products in fast-growing markets. Founded in 1987, the company has expertise in five technology sectors: automation, laser processing, metrology as well as wet chemical and roll-to-roll processing. These technologies are deployed and continuously developed by Manz in the three strategic business segments of "Electronics", "Solar" and "Energy Storage".

The company has been listed on the stock exchange in Germany since 2006 and currently develops and produces in Germany, China, Taiwan, Slovakia, Hungary and Italy. It also has sales and service branches in the United States and India. Manz AG currently employs around 1,700 people, about half of which are in Asia. With the claim "passion for efficiency", Manz offers its customers in dynamic, future-oriented industries a commitment to provide production systems that embody maximum efficiency and innovation. With its comprehensive expertise in developing new production technologies and related machines, the company contributes substantially to reducing production costs for end products and making them accessible to large groups of buyers the world over.

Contact

cometis AG
Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-mail: krause@cometis.de

Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-mail: abartmann@manz.com