Manz AG: About 50% of total payments received since project start of CIGS major orders
25.01.2018 06:31:00 CET, Reutlingen Payment of about 43 million euros for CIGSfab received as scheduled in January 2018 – CIGSfab und CIGSlab projects continue on schedule
- Payment of about 43 million euros for CIGSfab received as scheduled in January 2018
- CIGSfab und CIGSlab projects continue on schedule
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.