The divestment follows the sale of DSM Advanced Solar’s coatings business to Covestro, agreed last September as part of a wider transaction worth €1.6 billion that comprised the resins and functional materials business, including DSM Niaga and DSM Additive Manufacturing.

The agreement with Worthen Industries will create a global business that benefits from complementary innovation and enhanced production capability, said DSM.

“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 photovoltaic industry with sustainable, high-performance solutions that are VOC-free, zero-waste, and 100% recyclable,” said Worthen Industries CEO David Worthen. “This is a great combination of shared values and complementary expertise which will accelerate our ability to support the world’s transition to clean energy.”

The transaction, which is expected to close mid-2021, is part of DSM’s ongoing transformation to become a “purpose-led, science-based company operating in the fields of nutrition, health and sustainable living.”

Author: Elaine Burridge, Freelance Journalist