NISKAYUNA, N.Y.
and SEOUL, South Korea,
May 14,
2024 /PRNewswire/ -- Momentive Performance
Materials group (Momentive), a global high-performance silicones
and specialty solutions company, today announced that it has been
fully acquired by KCC Corporation (KCC), resulting in the exit of
minority shareholder SJL Partners, LLC. KCC, the company's majority
shareholder since 2020, announced the anticipated sale in
March.
"We are excited to fully bring Momentive into the
broader KCC Corporation and anticipate a positive impact with the
ownership change as we shift from a private equity mindset to a
more strategic and long-term approach, said Momentive President and
CEO Sam Conzone, Ph.D. "We look
forward to having KCC Corporation as our sole shareholder to
support our growth through our people, technology, and
innovation."
"We are pleased to announce the successful
completion of the transaction and to continue this partnership with
Sam and the Momentive team as we focus on the next stage of
growth," said Mong Jin Chung,
Chairman, of KCC Group and Momentive.
About the Company
Momentive is a
premier global advanced materials company with a cutting-edge focus
on silicone and specialty products. We deliver technologies,
solutions and processes designed to propel our customer's products
forward—products that have a profound impact on everyday life from
dawn to dusk, and from living rooms to outer space. With every
innovation, Momentive aims to create a more sustainable future. Our
vast product portfolio is made up of advanced silicone solutions
that play an essential role in driving performance across a
multitude of industries, including agriculture, automotive,
aerospace, electronics, personal care, consumer products, building
and construction, and more.
Momentive Performance Materials Inc. is an
indirect wholly owned subsidiary of MOM Holding Company and is one
of the largest producers of silicones and silicone derivatives.
Additional information about Momentive and its products is
available at momentive.com.
About KCC Corporation
Based in
Seoul, South Korea, KCC
Corporation is a leading chemicals manufacturer in Korea,
specializing in paints, building materials and specialty materials.
It also engages in the silicones business for developing products
in the fields of specialized paints and precision chemical
engineering. KCC Corporation was founded in 1958 and is
headquartered in Seoul, South
Korea. Additional information is available at
www.kccworld.co.kr/eng/main.do.
Media Contact:
Jonathan Pierce
518-221-1186
jon@albanypr.com
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SOURCE Momentive Performance Materials