PI Advanced Materials

Arkema finalized on 1 December 2023 the acquisition of Glenwood Private Equity's 54% stake in South Korean company PI Advanced Materials, based on a €728 million enterprise value.

French chemicals group Arkema announced the proposed acquisition of a 54% stake in South Korean PI Advanced Materials (PIAM) from Glenwood Private Equity for 728 million euros. The deal is expected to close in the second half of 2023.

PI Advanced Materials (PI첨단소재) signed a ₩25.262 billion contract to supply PI film for heat dissipation sheets. The contract runs from May 1, 2022 to April 30, 2023.

PI Advanced Materials signed an MOU with Gyeongsangbuk-do and Gumi City to invest KRW 143 billion by 2023 to expand its polyimide film plant in Gumi, South Korea, adding two lines with 600 tonnes/year capacity for EV and battery films.