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Arkema M&A Activity 2023
1117_iss_2023-12-01_e873f142-87b6-4c1c-9c73-ce0b0a633f7e.pdf
M&A Activity
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Colombes, 1 December 2023
ARKEMA FINALIZES THE ACQUISITION OF ITS 54% STAKE IN PI ADVANCED MATERIALS
Arkema finalized on 1 st 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 highperformance 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 evergrowing 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.
Investor relations contacts: Béatrice Zilm +33 (0)1 49 00 75 58 [email protected] Peter Farren +33 (0)1 49 00 73 12 [email protected]
Mathieu Briatta +33 (0)1 49 00 72 07 [email protected] Caroline Chung +33 (0)1 49 00 74 37 [email protected]
Press contact:
Anne Plaisance +33 (0)6 81 87 48 77 [email protected]
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
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