DKEM to acquire 60% stake in Solamet for RMB 696 million

DKEM, a China-based manufacturer of high-performance electronic materials, has announced it is acquiring a 60% equity stake in Solamet for RMB 696 million (~$97.4 million). The acquisition will give DKEM control of the Solamet silver paste business, which was previously part of the DuPont Group. Founded in 2010 and headquartered in Yixing, DKEM focuses on photovoltaic metallization pastes and operates research centers in Shanghai, Wuxi, and Yixing. According to DKEM, Solamet will become a holding subsidiary after the transaction is completed. DKEM has stated that the acquisition is intended to improve its competitiveness in the global PV silver paste market. Over the past decade, DKEM has developed its own technology to reduce reliance on overseas suppliers and expects the deal to support cost and efficiency gains in solar PV manufacturing.