South Korea’s KCC to fully acquire Momentive

Momentive logoSilicones and specialty solutions company Momentive Performance Materials is expected to be fully acquired by KCC Corporation (KCC), its majority shareholder resulting in the exit of minority shareholder, SJL Partners.

“We’re excited by the opportunities KCC’s 100% ownership position will bring to Momentive and the broader KCC Corporation,” said Momentive President/CEO Sam Conzone, Ph.D. “We look forward to continuing and expanding our partnership with the exceptional teams at KCC to continue providing specialised 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 anticipated purchase remains subject to customary closing conditions.

Momentive Performance Materials Inc. is an indirect wholly owned subsidiary of MOM Holding Company and is one of the largest producers of silicones and silicone derivatives.

Based in Seoul, South Korea, KCC Corporation is a leading chemicals manufacturer in Korea, specialising in paints, building materials and specialty materials. It also engages in the silicones business for developing products in the fields of specialised paints and precision chemical engineering.