KCC to acquire Momentive Performance Materials Group
Global high-performance silicones and specialty solutions company Momentive Performance Materials Group is expected to be fully acquired by its majority shareholder KCC Corporation, leading to the exit of minority shareholder SJL Partners. The contemplated purchase remains subject to customary closing conditions.
"We are excited about the opportunities that 100% ownership of KCC will bring to Momentive and the broader KCC Company," said Dr. Sam Conzone, president and CEO of Momentive. "We look forward to continuing and expanding our partnership with the outstanding team at KCC to continue delivering specialized products that provide solutions for a sustainable world."
Mong Jin Chung, Chairman of KCC Group and Momentives said: "Momentive has a 75-year history of developing and manufacturing silicones and specialty solutions. “We strongly believe in the company's growth opportunities as it continues to help businesses around the world delight their customers with innovative solutions. "
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