Wednesday 13 January 2021

US-based silicones and advanced materials company Momentive Performance Materials, Inc has reached a definitive agreement to acquire KCC Corp.'s Silicones business in Korea and the UK as well as its sales operations in China, the company said.

According to the company, the deal further enhancing Momentive's global capabilities in advanced silicones and specialized applications.

The acquisition will move the capabilities of KCC's Silicones business from KCC Corp., Momentive's majority shareholder, to Momentive, consolidating the companies' combined capabilities and expertise in advanced silicones.

Momentive develops advanced silicone and specialty products for customized applications in healthcare, telecommunications, electronics, personal care, construction, transportation, agriculture, energy, and many other industries.

Momentive recently announced a series of strategic steps to transform the company into a leading specialty silicones business, including the recent sale of its Consumer Sealants business to Germany-based company, Henkel, and its phased exit from commodity based products at the Waterford, New York site, while committing to a USD 15m investment in Advanced Electronic Materials Production.

Momentive's parent company was acquired by KCC Corp., SJL Partners LLC and Wonik QnC Corp. in 2019.

On January 1, 2020, Momentive divested its Quartz and Ceramics business and SJL and Wonik became Momentive Quartz Technologies' principal shareholders.

As part of the divestment, Wonik exited its stake in Momentive's Silicones business and KCC Corp. became Momentive's majority shareholder.

With the sale of KCC's Silicones business to Momentive, KCC Corp. will now increase its stake in Momentive to 60%.

Momentive Performance Materials, Inc. is in silicones and advanced materials, with a 75-year heritage of being first to market with performance applications for major industries that support and improve everyday life.

The company delivers science-based solutions by linking custom technology platforms to customer needs. Momentive Performance Materials Inc. is an indirect wholly owned subsidiary of MOM Holding company.