Arkema Finalizes the Acquisition of Its 54% Stake in PI Advanced Materials
01 Diciembre 2023 - 1:33AM
Business Wire
Regulatory News:
Arkema (Paris:AKE) finalized on 1st 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.
Building on its unique set of expertise in materials science,
Arkema offers a portfolio of first-class technologies to address
ever-growing demand for new and sustainable materials. With the
ambition to become in 2024 a pure player in Specialty Materials,
the Group is structured into 3 complementary, resilient and highly
innovative segments dedicated to Specialty Materials - Adhesive
Solutions, Advanced Materials, and Coating Solutions - accounting
for some 91% of Group sales in 2022, and a well-positioned and
competitive Intermediates segment. Arkema offers cutting-edge
technological solutions to meet the challenges of, among other
things, new energies, access to water, recycling, urbanization and
mobility, and fosters a permanent dialogue with all its
stakeholders. The Group reported sales of around €11.5 billion in
2022, and operates in some 55 countries with 21,100 employees
worldwide.
Arkema 420 rue d’Estienne d’Orves – 92705 Colombes Cedex –
France – T +33 (0)1 49 00 80 80 French Société anonyme, registered
at the Trade and Companies Register of Nanterre under the
number 445 074 685
arkema.com
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version on businesswire.com: https://www.businesswire.com/news/home/20231130119627/en/
Investor relations: Béatrice Zilm +33 (0)1 49 00 75 58
beatrice.zilm@arkema.com Peter Farren +33 (0)1 49 00 73 12
peter.farren@arkema.com Mathieu Briatta +33 (0)1 49 00 72 07
mathieu.briatta@arkema.com Caroline Chung +33 (0)1 49 00 74 37
caroline.chung@arkema.com
Press: Anne Plaisance +33 (0)6 81 87 48 77
anne.plaisance@arkema.com
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