PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


New Momentive: $7.5B Global Chemical Network

Tuesday, October 5, 2010

Comment | More

The parent companies of Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. have completed their merger, creating a global network for specialty chemicals and materials with annual sales projected at $7.5 billion.

The merger, announced in September and finalized Oct. 1, creates one of the world’s largest specialty chemicals and materials enterprises, with 117 production facilities and more than 10,000 associates.

The new enterprise retains the Momentive name but introduces a new logo.

In addition, Hexion Specialty Chemicals Inc. is changing its name to Momentive Specialty Chemicals Inc.

‘Broader Portfolio’

“Our new, combined enterprise now can offer a broader portfolio of specialty technologies and products to meet the diverse applications needs of our global customers,” said chairman & CEO Craig O. Morrison.

“These technologies include silicones, epoxies, quartz, phenolics, acrylics, aminos, Versatic Acids, and others that are used alone, or in combination, across thousands of critical industrial and consumer applications where superior performance is required.

“In addition, as we look across our complementary technology platform, we see tremendous growth potential for bringing new products to market.”

The new Momentive is headquartered in Columbus, OH. Its silicones and quartz business is headquartered in Albany, NY.

Market and Divisions

The new Momentive is organized into three global business divisions: Silicones and Quartz, led by president Steven Delarge; Epoxy, Phenolic and Coating Resins, led by president Joseph Bevilaqua; and Forest Products, led by president Dale Plante. The team includes leaders from both companies.

The new company serves more than 20,000 customers with silicones, epoxy resins and other specialty performance products for the protective coatings, marine, construction, transportation and other industrial and consumer industries.

Parent Companies Remain Separate

The capital structures and legal entity structures of both Momentive Performance Materials Holdings Inc. and Hexion LLC and their respective subsidiaries will remain separate and in place. The companies will continue to file separate financial and other reports with the Securities and Exchange Commission. The new parent company of Momentive and Hexion is now Momentive Performance Materials Holdings LLC.

The companies are controlled by investment funds affiliated with Apollo Global Management, LLC.

Momentive Performance Materials was formed in 2006 through the acquisition of GE Advanced Materials. Hexion Specialty Chemicals was formed in 2005 through the combination of Borden Chemical Inc., Resolution Performance Products Inc., Resolution Specialty Materials Inc., and Bakelite AG.

   

Tagged categories: Acquisitions; Hexion; Mergers

Comment Join the Conversation:

Sign in to our community to add your comments.

HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com


Absolute Equipment/Grand Rental Station
Portable Power from Absolute Equipment

•Compressors
•Lighting Systems
•Generators
•Light Compaction
Sales • Rental • Service
Call 1-866-931-6655
Over a century of
providing excellence.


Dampney Co., Inc.
High Temperature Paint

• Prevent Rust / Corrosion
• High Build / Hot Apply
• Custom Colors / VOC-Compliant
• Offshore/Petro Chem/ Refining/Power Industries
• Over 90 Years of Experience


NLB Corporation
Handheld VertaJet™ for concrete or steel

Ergonomic VertaJet from NLB boosts surface prep productivity. See how rotating 40,000 psi water jets strip a 6” path and get into corners, with vacuum recovery.


DRYCO
Control the Tank with DRYCO

Temporary climate control equipment. Dehumidifiers,
Heaters, A/C, Power, More…
Toll Free: 866-379-2600


Elcometer, Inc.
New Elcometer 456 Coating Thickness Gauge

Best In Class Just Got Better. Technologically Intelligent And Robust. Marvelous Design And Durability. An Earth-Shattering Revolution In Coating Inspection.


CS Unitec
Peening Preparation Tools

CS Unitec’s hand-held scarifiers are an ideal alternative to small-area shot blasting for cleaning and preparing concrete & metal surfaces. info@csunitec.com

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com