Momentive
 | |
| 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]
History
[edit]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]
Products
[edit]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]
References
[edit]- ^ a b c d e f "Momentive". Forbes.
- ^ "Momentive Names Sam Conzone President & CEO, Amy Bianchi, SVP & Chief Human Resources Officer". momentive.com. 6 April 2020. Retrieved 24 April 2021.
- ^ Cooper, Robin K. (2020-04-08). "Momentive names new chief executive". bizjournals.com.
- ^ "About Momentive | Momentive Performance Materials". MPMSitefinityCMS.
- ^ Morey, Krystle S. (2014-10-27). "Momentive emerges from bankruptcy". bizjournals.com. Retrieved 2021-05-28.
- ^ 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.
- ^ "Momentive history, profile and corporate video". companieshistory.com. January 8, 2014.
- ^ "Investindustrial has acquired the composites and coatings business of Momentive Specialty Chemicals, Inc". Lincoln International.
- ^ "Business and Basis of Presentation". www.sec.gov. Retrieved 2021-05-28.
- ^ "Locations | Momentive Performance Materials". MPMSitefinityCMS.
- ^ Morey, Krystle S. (2014-04-17). "Momentive files for bankruptcy, to continue business as usual, no layoffs planned". bizjournals.com. Retrieved 2021-05-28.
- ^ a b McCoy, Michael (2020-08-10). "Momentive to close silicone raw material plant". cen.acs.org. Retrieved 2021-05-28.
- ^ "KCC Corporation Completes Acquisition of Momentive Performance Materials Group". Momentive Performance Materials. 2024-05-14. Retrieved 2024-06-05.
- ^ "Momentive Celebrates 75 Years of Invention". momentive.com. 2015-05-12.
- ^ "Press Release announcing the completion of the Combination". www.sec.gov. 2010-10-01.
- ^ "Momentive Created by Joining Units From GE, Toshiba and Bayer". www.pcimag.com. 2007-02-01.
- ^ Rulison, Larry (April 14, 2014). "Momentive files for bankruptcy". timesunion.com.
- ^ Hals, Tom (October 20, 2017). "Creditors win closely watched appeal in Momentive bankruptcy". Reuters – via www.reuters.com.
- ^ "Investor Group Completes Acquisition of MPM Holdings Inc". momentive.com. 2019-05-15.
- ^ Cropley, John (May 4, 2021), Momentive to pay $2.3M for Waterford environmental violations, The Daily Gazette, retrieved May 24, 2021
- ^ "Momentive Performance Materials Inc - Company Profile and News". Bloomberg.com.
