Sipex Sells Hybrid Assembly Business to SatCon
Sipex Corp. (Billerica, MA) announced that it has sold its thin film and hybrid assembly business to SatCon Electronics Inc., a division of SatCon Technology Corp. (Cambridge. MA). The sale is part of Sipex’s plan to exit the assembled products business. SatCon will acquire the hybrid business’ equipment and inventory and SatCon is expected to continue to service the existing customers of Sipex’s hybrid business.
The financial value of the deal was not disclosed, although Sipex said payment for the assets purchased by SatCon are deferred for up to three years. Payment would be made from the proceeds from future sales of equipment and inventory included in the sale.