Subjects: TNM, LIC
KCC Corporation Enters into Agreement to Fully Acquire Momentive Performance Materials Group
NISKAYUNA, N.Y. and SEOUL, South Korea, March 28, 2024 /PRNewswire/ -- Momentive Performance Materials group (Momentive), a global high-performance silicones and specialty solutions company, is expected to be fully acquired by KCC Corporation (KCC), its majority shareholder resulting in the exit of minority shareholder, SJL Partners LLC ("SJL").
"We're excited by the opportunities KCC's 100% ownership position will bring to Momentive and the broader KCC Corporation," said Momentive President and CEO Sam Conzone, Ph.D. "We look forward to continuing and expanding our partnership with the exceptional teams at KCC to continue providing specialized products to enable Solutions for a Sustainable Worldtm."
"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 deeply believe in the company's growth opportunity as it continues to help businesses across the world delight their customers with innovative solutions."
The anticipated purchase remains subject to customary closing conditions.
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 Contacts:
Jonathan Pierce
518-221-1186
[email protected]
SOURCE Momentive Performance Materials
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