Arkema Expands its Portfolio with 54% Stake Acquisition in PI Advanced Materials

Arkema Expands its Portfolio with 54% Stake Acquisition in PI Advanced Materials

(IN BRIEF) Arkema has completed the acquisition of a 54% stake in PI Advanced Materials (PIAM), a South Korean company specializing in polyimide films for advanced electronics and electric mobility markets. PIAM holds a dominant global market share of over 30% in this sector, making it a strategic addition to Arkema’s portfolio. With PIAM’s anticipated 13% annual sales growth driven by applications in 5G antennas, high-resolution OLED displays, flexible screens, and electric vehicles, Arkema expects to achieve synergies of €30 million in EBITDA over the next 5 years. This acquisition, based on a €728 million enterprise value, will result in PIAM’s full consolidation into Arkema’s accounts.

(PRESS RELEASE) COLOMBES, 3-Dec-2032 — /EuropaWire/ — Arkema finalized on 1 December 2023 the acquisition of Glenwood Private Equity’s 54% stake in the listed 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, based in South Korea, 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 around 13% per year, driven by new cutting-edge applications in 5G antennas, high-resolution OLED displays, flexible screens and electric vehicles, and supported by recent capacity expansions.

Furthermore, PIAM’s portfolio, which will strengthen Arkema’s range of high-performance polymers, combined with the perfect geographic fit with the Group, should enable to achieve synergies estimated at €30 million in terms of EBITDA over the next 5 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.

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SOURCE: Arkema