Arkema: completes takeover of PIAM

(CercleFinance.com) - Arkema announces that it has finalized the acquisition of Glenwood Private Equity's 54% stake in PI Advanced Materials (PIAM), thereby completing its portfolio of technologies for the advanced electronics and electric mobility markets.


With a market share of over 30%, PIAM, based in South Korea, is the world leader in polyimide films for the high-growth, high-value-added markets of mobile telephony devices and electric vehicles, the chemical company says.

This acquisition, for an enterprise value of 728 million euros, will result in PIAM being 100%-consolidated in Arkema's accounts. It is expected to generate EBITDA synergies estimated at 30 million euros over the next five years.


Copyright (c) 2023 CercleFinance.com. All rights reserved.