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

01 Apr '24

15 min read

Pic: KCC Corporation

Insights

KCC Corporation to fully acquire Momentive Performance Materials group, exiting minority shareholder SJL Partners.
Momentive CEO expresses excitement for expanded partnership with KCC, aiming to provide specialised products for a sustainable world.
KCC chairman highlights Momentive's 75-year track record and growth potential in delivering innovative solutions.

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.