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Electronic Materials
Arkema to acquire majority stake in the films maker PI Advanced Materials
by Michael McCoy
June 30, 2023
| A version of this story appeared in
Volume 101, Issue 21
Arkema plans to acquire Glenwood Private Equity’s 54% stake in the South Korean company PI Advanced Materials for about $800 million. The rest of the firm will continue to trade on the Korean Stock Exchange. Arkema says PI, which had sales of about $220 million last year, is the global leader in polyimide films used in applications such as lithium-ion batteries, 5G antennas, and organic light-emitting diode displays. Arkema says PI fits with its advanced materials business, which makes engineering polymers and specialized additives.
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