Arkema completed the acquisition of a 54% stake in PI Advanced Materials from Glenwood for €728m.

Arkema, a manufacturer of specialty materials, completed the acquisition of a 54% stake in PI Advanced Materials, a business of producing plastic films, from Glenwood Private Equity, an alternative investment firm, for €728m ($796m). “PIAM is an outstanding company with a unique technological positioning, state of the art manufacturing facilities and invaluable customer relationships. This acquisition is fully aligned with our strategy to be at the forefront of high performance materials for high growth end markets supported by megatrends such as electric vehicles and advanced electronics,” Thierry Le Hénaff, Arkem Chairman and CEO.