Consolidation continues to occur within all sections of the global PV industry. This latest transaction will be effective as of March 1, 2015. Filmcutter PV division head Cesar Campos has been confirmed as CEO of the new business, under the ownership of Jolywood.
Filmcutter and Jolywood have a very good strategic match, that will ensure a strong basis for further development of the business by leveraging Filmcutters position in the PET based backsheet segment, as well as improving Jolywood Global presence and recognition, said Campos in announcing the transaction.
Filmcutter says that its service and supply to existing companies will not be affected by the move. ??This operation is a result of an important strategy where Filmcutter has explored several opportunities to maximize value for customers, said Filmcutter chairman Stefano Camerra. The business intent it to allow Filmcutter continue growing, innovating products and building up its brand and market share in the PET based backsheet segment.
pv magazine upstream correspondent Dennis Richard confirms that the acquisition will allow the firms to supply their differentiated backsheet products.
Both the companies manufacture completely different lines of products," said Richard. "While Jolywood manufactures backsheets based on fluoro-polymers, Filmcutter offers non fluoro-polymer based backsheets (PETs).