Company type | Private |
---|---|
Industry | Chemicals |
Predecessor | Momentive Performance Materials Inc., Momentive Specialty Chemicals Inc. |
Founded | 1857 [1] |
Headquarters | Niskayuna, New York, United States |
Key people | Sam Conzone (President & CEO) [2] [3] |
Revenue | $6.5 billion [1] |
Owner |
|
Number of employees | 9,200 [1] |
Website | momentive |
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]
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. [20]
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. [21]
Waterford is a town in Saratoga County, New York, United States. The population was 8,208 at the 2020 census. The name of the town is derived from its principal village, also called Waterford. The town is located in the southeast corner of Saratoga County and north-northwest of Troy at the junction of the Erie Canal and the Hudson River.
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