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.