Arkema Finalizes the Acquisition of its Stake in PI Advanced Materials
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.