DSM selling its solar backsheet business to Worthen Industries
The deal will boost New Hampshire-based Worthen’s strategy to serve the global photovoltaic industry.
Dutch material supplier Royal DSM is selling its advanced solar business in backsheet products to Worthen Industries Inc., a Nashua, N.H.-based company specializing in polymer technologies for multiple end-markets.
The financial terms of the deal have not been disclosed.
In September 2020, DSM announced it had reached an agreement to sell the coatings business of DSM advanced solar to Covestro AG as part of a broader agreement to sell the resins and functional materials business, including DSM Niaga and DSM additive manufacturing. “For the remaining solar business, an agreement has now been reached with Worthen Industries that will create a global business which benefits from complementary innovation and enhanced production capability,” DSM officials said in a March 12 statement.
“The acquisition of DSM’s business in backsheets and conductive backsheets, along with its excellent team, is a strong next step in Worthen’s strategy to serve the global PV [photovoltaic] industry with sustainable, high-performance solutions that are VOC-free, zero-waste, and 100 per cent recyclable – enabling a greener, better-performing industry worldwide,” David Worthen, CEO at Worthen Industries, said.
Completion of the transaction is expected mid-2021.