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DSM completes sale of Advanced Solar backsheets business to Worthen Industries

June 09/2021

MOSCOW (MRC) -- Royal DSM has completed the sale of its advanced solar business in backsheet products to Worthen Industries (Nashua, New Hampshire), a company specialized in polymer technologies for multiple end markets, according to MarketScreener.

The proposed transaction was announced 11 March 2021. Financial terms have not been disclosed.

The deal covers DSMs solar business that was not included in the company's agreement to sell its resins and functional materials businesses to Covestro in September 2020.

As MRC reported earlier, in April 2021, DSM said it had completed the sale of the resins & functional materials businesses to Covestro for EUR1.6 billion (USD1.9 billion), including EUR1.4 billion in cash. It included DSM Niaga, DSM additive manufacturing, and the coatings activities of the DSM advanced solar business, which together represented EUR1.01 billion of DSMs 2019 total annual net sales and EUR133 million of DSMs 2019 total EBITDA.

We remind that Covestro closed the sale of its European polycarbonates (PC) sheets business to the Munich-based Serafin Group effective January 2, 2020. This includes key management and sales functions throughout Europe as well as production sites in Belgium and Italy.

Royal DSM, commonly known as DSM, is a Dutch multinational corporation active in the fields of health, nutrition and materials. The Materials cluster is made up of DSM Engineering Materials, DSM Protective Materials and DSM Resins & Functional Materials. DSM Engineering Materials specialty plastics are used in components for the electrical and electronics, automotive, flexible food packaging and consumer goods industries.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PC, coatings, sheet extrusion, adhesives, paints and coatings, Bayer, Covestro, DSM.
Category:General News
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