5.7 Billion! Arkema Announces Acquisition of Leading Polyimide Film Manufacturer

On June 28th, Arkema announced its plan to acquire a 54% stake in PI Advanced Materials (PIAM), a listed company in South Korea, for an enterprise value of 728 million euros (approximately 5.754 billion RMB). Following the acquisition, PIAM will be merged into Arkema, while the remaining 46% stake will continue to be listed on the Korea Stock Exchange. The transaction is subject to approval from Chinese and Korean antitrust authorities and is expected to be completed by the end of 2023.

Headquartered in South Korea, PIAM is a global leader in polyimide film, used in high-growth and high-profit markets such as mobile devices and electric vehicles. It holds over 30% of the global market share.

"PIAM is an outstanding company with unique technological positioning, advanced production facilities, and valuable customer relationships. This acquisition perfectly aligns with our strategy of being at the forefront of high-performance materials in high-growth end markets supported by trends such as electric vehicles and advanced electronics. Following the divestment of PMMA, the acquisition of Ashland Adhesives, and the launch of our bio-based PA11 plant in Singapore, Arkema is achieving another important milestone in its strategy of focusing on innovative materials for a sustainable world," said Thierry Le Hénaff, Chairman and CEO of Arkema.

PIAM's ultra-high-performance polyimide films are advanced materials with exceptional heat resistance, dimensional stability, flexibility, and electrical insulation properties. Benefiting from the increasing demand for miniaturization, higher thermal management, and improved safety and durability, they are increasingly used in attractive markets such as electric vehicles, consumer electronics, semiconductor manufacturing, and other advanced industrial applications.

With its strong innovation channels, successful customer qualifications in 5G antennas and high-resolution OLED displays