Momentive
{{Short description|American chemical company}}
{{Hatnote|For the software company formerly known as SurveyMonkey, see Momentive (software company).}}
{{Infobox company
| name = Momentive Inc.
| logo = Momentive_Performance_Materials_logo.png
| type = Private
| predecessor = Momentive Performance Materials Inc., Momentive Specialty Chemicals Inc.
| foundation = 1857{{cite web|url=https://www.forbes.com/companies/momentive/|title=Momentive|website=Forbes}}
| location = Niskayuna, New York, United States
| key_people = Sam Conzone (President & CEO){{cite web |title=Momentive Names Sam Conzone President & CEO, Amy Bianchi, SVP & Chief Human Resources Officer |url=https://www.momentive.com/en-us/%20discover/news-and-press-releases/momentive-names-sam-conzone-president-ceo-amy-bianchi-svp-chief-human-resources-officer |website=momentive.com |access-date=24 April 2021 |date=6 April 2020}}{{cite web |last1=Cooper |first1=Robin K. |title=Momentive names new chief executive |url=https://www.bizjournals.com/albany/news/2020/04/08/momentive-new-chief-executive-conzone.html?iana=cp_news_link |website=bizjournals.com |date=2020-04-08}}
| industry = Chemicals
| owner = {{ubl|KCC Corporation|{{smaller|(2024–present)}}}}
| website = {{URL|momentive.com}}
}}
Momentive Performance Materials, Inc. is an American chemical company whose products include silicones and quartz.{{cite web|url=https://www.momentive.com/en-us/about|title=About Momentive | Momentive Performance Materials|website=MPMSitefinityCMS}}{{Cite web|last=Morey|first=Krystle S.|date=2014-10-27|title=Momentive emerges from bankruptcy|url=https://www.bizjournals.com/albany/news/2014/10/27/momentive-emerges-from-bankruptcy.html|access-date=2021-05-28|website=bizjournals.com}}{{cite news|url=https://online.wsj.com/article/SB10001424052702303663604579500352501896612.html|title=Apollo's Momentive Performance Materials Makes Chapter 11 Bankruptcy Filing|first=Patrick Fitzgerald And Emily|last=Glazer|newspaper=Wall Street Journal |date=April 14, 2014|via=www.wsj.com}}{{cite web|date=January 8, 2014|title=Momentive history, profile and corporate video|url=https://www.companieshistory.com/momentive/|website=companieshistory.com}}{{cite web|url=https://www.lincolninternational.com/transactions/investindustrial-has-acquired-the-composites-and-coatings-business-of-momentive-specialty-chemicals-inc/|title=Investindustrial has acquired the composites and coatings business of Momentive Specialty Chemicals, Inc.|website=Lincoln International}}{{Cite web|title=Business and Basis of Presentation|url=https://www.sec.gov/Archives/edgar/data/1412284/000119312512482266/R9.htm|access-date=2021-05-28|website=www.sec.gov}} Headquartered in Niskayuna, New York, it employs 9,200 employees across more than 50 locations throughout North America, Europe, Asia and South America.{{cite web|url=https://www.momentive.com/en-us/locations|title=Locations | Momentive Performance Materials|website=MPMSitefinityCMS}}
With $6.5 billion in sales that year, the company was ranked as the 64th largest private company in the United States by Forbes in 2019. Momentive is the fourth-largest manufacturer in the Capital Region of New York State employing roughly 1,000 at its Waterford plant.{{Cite web|last=Morey|first=Krystle S.|date=2014-04-17|title=Momentive files for bankruptcy, to continue business as usual, no layoffs planned|url=https://www.bizjournals.com/albany/news/2014/04/14/momentive-files-for-bankruptcy-to-continue.html|access-date=2021-05-28|website=bizjournals.com}}{{Cite web|last=McCoy|first=Michael|date=2020-08-10|title=Momentive to close silicone raw material plant|url=https://cen.acs.org/business/specialty-chemicals/Momentive-close-silicone-raw-material/98/web/2020/08|access-date=2021-05-28|website=cen.acs.org}}
In May, 2024, KCC Corporation completed the purchase of Momentive Performance Materials Group.{{Cite web|url=https://www.momentive.com/en-us/discover/pressreleases/kcc-corporation-completes-acquisition-of-momentive-performance-materials-group|title=KCC Corporation Completes Acquisition of Momentive Performance Materials Group|work=Momentive Performance Materials|date=2024-05-14|access-date=2024-06-05|language=en}}
History
The company traces its origins back to GE research chemist Eugene G. Rochow,{{cite web|date=2015-05-12|title=Momentive Celebrates 75 Years of Invention|url=https://www.momentive.com/en-us/discover/news-and-press-releases/momentive-celebrates-75-years-of-invention|website=momentive.com}} 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.{{cite web|date=2010-10-01|title=Press Release announcing the completion of the Combination|url=https://www.sec.gov/Archives/edgar/data/13239/000119312510221845/dex991.htm|website=www.sec.gov}}{{cite web|date=2007-02-01|title=Momentive Created by Joining Units From GE, Toshiba and Bayer|url=https://www.pcimag.com/articles/87008-momentive-created-by-joining-units-from-ge-toshiba-and-bayer?v=preview|website=www.pcimag.com}}{{cite web|last=Rulison|first=Larry|date=April 14, 2014|title=Momentive files for bankruptcy|url=https://www.timesunion.com/business/article/Momentive-files-for-bankruptcy-5402051.php|website=timesunion.com}} After bankruptcy in 2014,{{cite news|url=https://www.reuters.com/article/us-momentive-bankruptcy-ruling-idUSKBN1CP2M7|title=Creditors win closely watched appeal in Momentive bankruptcy|first=Tom|last=Hals|newspaper=Reuters |date=October 20, 2017|via=www.reuters.com}} and a stock offering in 2017, the company is owned by a group of South Korean investors.{{cite web|date=2019-05-15|title=Investor Group Completes Acquisition of MPM Holdings Inc.|url=https://www.momentive.com/en-us/discover/news-and-press-releases/investor-group-completes-acquisition-of-mpm-holdings-inc|website=momentive.com}}
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.{{Citation
| last =Cropley
| first =John
| title =Momentive to pay $2.3M for Waterford environmental violations
| publisher =The Daily Gazette
| date =May 4, 2021
| url =https://dailygazette.com/2021/05/04/momentive-to-pay-2-3m-for-waterford-environmental-violations/
| access-date =May 24, 2021 }}
==Products==
Momentive's products include silicones used in several markets., 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.{{cite web|url=https://www.bloomberg.com/profile/company/794228Z:US|title=Momentive Performance Materials Inc - Company Profile and News|website=Bloomberg.com}}
References
{{Reflist}}
External links
- {{Official website|https://momentive.com}}
{{Authority control|state=expanded}}
Category:Chemical companies of the United States
Category:Manufacturing companies based in New York (state)
Category:Privately held companies based in New York (state)
Category:Companies based in Schenectady County, New York
Category:Companies that filed for Chapter 11 bankruptcy in 2014