Momentive Performance Materials, Inc. has announced its acquisition of KCC Corporation's Silicone business, which will further enhance Momentive's capabilities in silicones and specialized applications.
The acquisition will move the capabilities of KCC's Silicone business from KCC Corporation to Momentive, which will consolidate the capabilities and expertise in silicones from each company in Korea, the United Kingdom and China.
Momentive's transformation into a specialty silicones business has included the recent sale of its consumer sealant business to Henkel and its phased exit from commodity-based products at the Waterford, New York, as well as its commitment to a $15-million investment, as previously reported, in advanced electronic materials production.
"We're excited by the synergies this acquisition will bring to Momentive and the broader KCC Corporation," said Momentive president and CEO, Sam Conzone, Ph.D. "It expands our technological capabilities and geographic footprint while also substantially strengthening our position in the Asia-Pacific region, including Korea, a country with a strong and growing demand for silicones and specialty materials."
"This integration allows us to focus our strengths and expertise on advanced technologies," said Joseph Bruderek, vice president of corporate development and strategy at Momentive. "The acquisition of KCC's Silicone business is another important milestone in Momentive's transformation journey."
For more information, contact Momentive Performance Materials, Inc.