Momentive

Last updated
Momentive Inc.
Company type Subsidiary
IndustryChemicals
PredecessorMomentive Performance Materials Inc., Momentive Specialty Chemicals Inc.
Founded1857 [1]
Headquarters Niskayuna, New York, United States
Key people
Craig Borkowski (President & CEO)
Revenue$6.5 billion [1]
Owner
Number of employees
9,200 [1]
Parent KCC Corporation
Website momentive.com

Momentive Performance Materials, Inc. is an American chemical company whose products include silicones and quartz. [2] [3] [4] [5] [6] [7] As of 2024, Momentive is a fully owned subsidiary of KCC Corporation. [8] Headquartered in Niskayuna, New York, it employs 9,200 employees across more than 50 locations throughout North America, Europe, Asia and South America. [9] 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. [10] [11]

Contents

History

The company traces its origins back to GE research chemist Eugene G. Rochow, [12] 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. [13] [14] [15] After bankruptcy in 2014, [16] and a stock offering in 2017, the company is owned by a group of South Korean investors. [17] [11]

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. [18]

In April 2024, it was announced that Korean-based KCC Corporation would fully acquire Momentive Performance Materials Group. [19] The acquisition was completed in May 2024. [8]

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]

References

  1. 1 2 3 4 5 6 "Momentive". Forbes.
  2. ↑ "About Momentive | Momentive Performance Materials". MPMSitefinityCMS.
  3. ↑ Morey, Krystle S. (2014-10-27). "Momentive emerges from bankruptcy". bizjournals.com. Retrieved 2021-05-28.
  4. ↑ Glazer, Patrick Fitzgerald And Emily (April 14, 2014). "Apollo's Momentive Performance Materials Makes Chapter 11 Bankruptcy Filing". Wall Street Journal– via www.wsj.com.
  5. ↑ "Momentive history, profile and corporate video". companieshistory.com. January 8, 2014.
  6. ↑ "Investindustrial has acquired the composites and coatings business of Momentive Specialty Chemicals, Inc". Lincoln International.
  7. ↑ "Business and Basis of Presentation". www.sec.gov. Retrieved 2021-05-28.
  8. 1 2 "KCC Corporation Completes Acquisition of Momentive Performance Materials Group". Momentive Performance Materials. 2024-05-14. Retrieved 2025-05-16.
  9. ↑ "Locations | Momentive Performance Materials". MPMSitefinityCMS.
  10. ↑ Morey, Krystle S. (2014-04-17). "Momentive files for bankruptcy, to continue business as usual, no layoffs planned". bizjournals.com. Retrieved 2021-05-28.
  11. 1 2 McCoy, Michael (2020-08-10). "Momentive to close silicone raw material plant". cen.acs.org. Retrieved 2021-05-28.
  12. ↑ "Momentive Celebrates 75 Years of Invention". momentive.com. 2015-05-12.
  13. ↑ "Press Release announcing the completion of the Combination". www.sec.gov. 2010-10-01.
  14. ↑ "Momentive Created by Joining Units From GE, Toshiba and Bayer". www.pcimag.com. 2007-02-01.
  15. ↑ Rulison, Larry (April 14, 2014). "Momentive files for bankruptcy". timesunion.com.
  16. ↑ Hals, Tom (October 20, 2017). "Creditors win closely watched appeal in Momentive bankruptcy". Reuters– via www.reuters.com.
  17. ↑ "Investor Group Completes Acquisition of MPM Holdings Inc". momentive.com. 2019-05-15.
  18. ↑ Cropley, John (May 4, 2021), Momentive to pay $2.3M for Waterford environmental violations, The Daily Gazette, retrieved May 24, 2021
  19. ↑ "KCC Corporation to Acquire Momentive Performance Materials Group". American City Business Journals . 2024-03-28. Retrieved 2025-05-16.
  20. ↑ "Momentive Performance Materials Inc - Company Profile and News". Bloomberg.com.
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