DSM buys PV backsheet maker

Royal DSM NV, a Netherlands-based nutrition and material sciences company, announced on Thursday that it has acquired Suzhou Sunshine New Materials Technology Co Ltd, a Chinese manufacturer of high-performance solar photovoltaic backsheets.

DSM said it will expand its product portfolio for the solar PV market through the acquisition, but the financial details of the deal have not been disclosed.

"We are bullish on the growth potential of the solar energy market in China, and we have plans for investing in new factories for materials and further collaborating with Chinese enterprises in this field," said Feike Sijbesma, DSM's chief executive officer.