* Meyer Burger cuts FY sales target
* Expects to post loss at EBITDA level of 20-40 mln Sfr
* Plans further job cuts to reduce operating costs
ZURICH, Nov 21 Swiss solar equipment maker Meyer
Burger cut its full-year sales target on Wednesday and
said it now expected an operating loss in 2012, blaming the
sector's challenging conditions.
The maker of production equipment for solar cells now
expects to achieve sales slightly over 600 million francs, down
from the guidance of sales between 600 and 800 million francs it
gave at its half-year results in August.
Due to lower sales and ongoing restructuring costs it is
forecasting an operating loss of approximately 20 to 40 million
francs in the fiscal year 2012.
Solar companies in Europe and the United States have
grappled with a toxic mix of overcapacity, falling prices,
low-cost Asian competition and lower government subsidies on
which the industry depends.
Earlier this month German solar group SolarWorld
warned a massive decline in prices for solar modules would lead
to a wide operating loss this year.
Meyer Burger, which has already shed 19 percent of its
workforce, said it would make further cuts to reduce operating
costs by approximately 30 million francs as the difficult market
conditions drag on.
It plans to cut 50 staff at its German subsidiary Roth and
Rau and said capacity adjustment measures could lead to a
further 200 job cuts at other locations worldwide.
(Reporting by Caroline Copley; Editing by Helen