KCC Corporation fully acquires Momentive Performance Materials Group
Momentive is expected to be fully acquired by KCC. KCC is the majority shareholder in the company, resulting in the exit of minority shareholder SJL.
Momentive is a high-performance silicone and specialty solutions company. The prospective purchase is still subject to customary closing conditions. “We are excited about the opportunities that KCC's 100% ownership brings to Momentive and the entire KCC Corporation,” said Sam Conzone, Ph.D., President and Chief Executive Officer of Momentive.
“We look forward to continuing and expanding our partnership with KCC’s exceptional teams to continue delivering specialized products for solutions for a sustainable world,” Conzone added.
“Momentive has a 75-year track record of developing and manufacturing silicones and specialty solutions,” said Mong Jin Chung, Chairman of KCC Group and Momentive. “We firmly believe in the company’s growth opportunities as it helps companies around the world delight their customers with innovative solutions.”
Source: Paint & Varnish