Momentive Explained

Momentive Inc.
Type:Private
Predecessor:Momentive Performance Materials Inc., Momentive Specialty Chemicals Inc.
Foundation:1857[1]
Location:Niskayuna, New York, United States
Key People:Sam Conzone (President & CEO)[2] [3]
Industry:Chemicals
Revenue:$6.5 billion
Num Employees:9,200

Momentive Performance Materials, Inc. is an American chemical company whose products include silicones and quartz.[4] [5] [6] [7] [8] [9] Headquartered in Niskayuna, New York, it employs 9,200 employees across more than 50 locations throughout North America, Europe, Asia and South America.[10]

With $6.5 billion in sales that year,[1] the company was ranked as the 64th largest private company in the United States by Forbes in 2019.[1] Momentive is the fourth-largest manufacturer in the Capital Region of New York State employing roughly 1,000 at its Waterford plant.[11] [12]

In May, 2024, KCC Corporation completed the purchase of Momentive Performance Materials Group.[13]

History

The company traces its origins back to GE research chemist Eugene G. Rochow,[14] who first described the direct process for synthesizing silicone compounds. Momentive Performance Materials was later formed as a result of the sale of GE Advanced Materials to Apollo Management in 2006.[15] [16] [17] After bankruptcy in 2014,[18] and a stock offering in 2017, the company is owned by a group of South Korean investors.[19] [12]

In 2021, the company was assessed over $2 million in penalties by the New York State Department of Environmental Conservation as a result of air, water and hazardous waste law violations that had occurred at their Waterford facility since 2007.

Products

Momentive's products include silicones used in several markets.,[1] as well as quartz and ceramic materials. The company also produces raw materials such as siloxane polymers and various additives, including silanes, specialty fluids, and urethane additives.[20]

Notes and References

  1. Web site: Momentive. Forbes.
  2. Web site: Momentive Names Sam Conzone President & CEO, Amy Bianchi, SVP & Chief Human Resources Officer . momentive.com . 24 April 2021 . 6 April 2020.
  3. Web site: Cooper . Robin K. . Momentive names new chief executive . bizjournals.com . 2020-04-08.
  4. Web site: About Momentive | Momentive Performance Materials. MPMSitefinityCMS.
  5. Web site: Morey. Krystle S.. 2014-10-27. Momentive emerges from bankruptcy. 2021-05-28. bizjournals.com.
  6. News: Apollo's Momentive Performance Materials Makes Chapter 11 Bankruptcy Filing. Patrick Fitzgerald And Emily. Glazer. Wall Street Journal . April 14, 2014. www.wsj.com.
  7. Web site: January 8, 2014. Momentive history, profile and corporate video. companieshistory.com.
  8. Web site: Investindustrial has acquired the composites and coatings business of Momentive Specialty Chemicals, Inc.. Lincoln International.
  9. Web site: Business and Basis of Presentation. 2021-05-28. www.sec.gov.
  10. Web site: Locations | Momentive Performance Materials. MPMSitefinityCMS.
  11. Web site: Morey. Krystle S.. 2014-04-17. Momentive files for bankruptcy, to continue business as usual, no layoffs planned. 2021-05-28. bizjournals.com.
  12. Web site: McCoy. Michael. 2020-08-10. Momentive to close silicone raw material plant. 2021-05-28. cen.acs.org.
  13. Web site: KCC Corporation Completes Acquisition of Momentive Performance Materials Group. Momentive Performance Materials. 2024-05-14. 2024-06-05. en.
  14. Web site: 2015-05-12. Momentive Celebrates 75 Years of Invention. momentive.com.
  15. Web site: 2010-10-01. Press Release announcing the completion of the Combination. www.sec.gov.
  16. Web site: 2007-02-01. Momentive Created by Joining Units From GE, Toshiba and Bayer. www.pcimag.com.
  17. Web site: Rulison. Larry. April 14, 2014. Momentive files for bankruptcy. timesunion.com.
  18. News: Creditors win closely watched appeal in Momentive bankruptcy. Tom. Hals. Reuters . October 20, 2017. www.reuters.com.
  19. Web site: 2019-05-15. Investor Group Completes Acquisition of MPM Holdings Inc.. momentive.com.
  20. Web site: Momentive Performance Materials Inc - Company Profile and News. Bloomberg.com.

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