Company News

Momentive is new speciality chemical company
Silicone/quartz materials supplier Momentive Performance Materials is merging with Hexion Specialty Chemicals, which is the world's largest thermoset manufacturer, to form a US$7.5 billion speciality chemicals company in the US.

The new company will operate as Momentive Performance Materials and will be headquartered in Columbus, Ohio, as well as have a significant presence in New York where its silicones business will continue to remain. It will have more than 10,000 employees and 117 production facilities globally.

Apollo Management owns both Momentive and Hexion. The latter was formed in 2005 from the merger of four speciality chemicals firms while Momentive was formed in 2006 through the acquisition of GE Advanced Materials.