Momentive Performance Materials Group, a silicones and specialty solutions company, is expected to be fully acquired by KCC Corporation, its majority shareholder, resulting in the exit of minority shareholder, SJL Partners LLC.
“We’re excited by the opportunities KCC’s 100% ownership position will bring to Momentive and the broader KCC Corporation,” said Momentive President and CEO Sam Conzone. “We look forward to continuing and expanding our partnership with the exceptional teams at KCC to continue providing specialized products.”
“Momentive has a 75-year track record of developing and manufacturing silicones and specialty solutions,” said Mong Jin Chung, chairman of KCC Group and Momentive. “We deeply believe in the company’s growth opportunity as it continues to help businesses across the world delight their customers with innovative solutions.”
The purchase remains subject to customary closing conditions.