Arkema Finalizes the Acquisition of its Stake in PI Advanced Materials
One of many semiconductors manufactured by PI Advanced Materials. Photo courtesy of Arkema.
On December 1, 2023, Arkema finalized the acquisition of Glenwood Private Equity’s 54% stake in the South Korean company PI Advanced Materials (PIAM). This acquisition complements Arkema's portfolio of high-performance technologies for the high-growth markets of advanced electronics and electric mobility.
With more than 30% market share, PIAM is the global leader of polyimide films used in the high-growth and high value-added markets of mobile devices and electric vehicles. In the coming years, PIAM sales are expected to grow by 13% per year, driven by new cutting-edge applications in 5G antennas, high-resolution OLED displays, flexible screens, and electric vehicles.
PIAM's portfolio will strengthen Arkema's range of high-performance polymers, combined with the perfect geographic fit with the group. It is estimated at €30 million in terms of EBITDA over the next five years.
The acquisition of this 54% majority stake, based on a €728 million enterprise value, will enable a 100% consolidation of PIAM in Arkema’s accounts.
To learn more, visit www.arkema.com and www.pimaterials.com.
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