South Korea's KCC to acquire Momentive in full ownership shift

Momentive Performance Materials group (Momentive), a global high-performance silicones and specialty solutions company, is expected to be fully acquired by KCC Corporation (KCC), its majority shareholder resulting in the exit of minority shareholder, SJL Partners LLC ("SJL").

"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, Ph.D. "We look forward to continuing and expanding our partnership with the exceptional teams at KCC to continue providing specialized products to enable Solutions for a Sustainable World."

"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 anticipated purchase remains subject to customary closing conditions.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)