(Boursier.com) — Arkema on December 1, completed the acquisition of Glenwood Private Equity’s 54% stake in South Korean listed 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, South Korea-based PIAM is the world leader in polyimide films for the high-growth, high-value markets of mobile phone 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-definition OLED displays, flexible displays or electric vehicles, and supported by recent capacity expansions. Furthermore, the PIAM portfolio, which will strengthen Arkema’s range of high-performance polymers, combined with the perfect geographic complementarity with the Group, should make it possible to achieve synergies estimated at 30 million euros in terms of EBITDA. over the next 5 years.
The acquisition of this majority stake of 54%, for an enterprise value of 728 million euros, will allow the 100% consolidation of PIAM in Arkema’s accounts.
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