Hexion sold to Momentive
Published 12:11 am Saturday, November 13, 2010
Hexion Specialty Chemicals is now Momentive Performance Materials after an October merger that combined Columbus, Ohio based Hexion LLC and Albany, N.Y.’s Momentive Performance Materials Holdings Inc.
The resulting firm, of which the Demopolis facility is now part, becomes one of the world’s largest specialty chemicals and materials enterprises. Momentive, which employs 13 people at its Demopolis facility, boasts a workforce of more than 10,000 individuals over its 117 production sites. Momentive also has pro forma annualized sales of approximately $7.5 billion and pro forma adjusted EBITDA of $1.24 billion.
Momentive has worldwide sales, including 28 percent of its sales in Brazil, Russia, India and China, 33 percent in Europe and 39 percent in North America.
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The new Momentive is headquartered in Columbus, Ohio. Its silicones and quartz business is based in Albany, N.Y.
Momentive Performance Materials formed in 2006 through the acquisition of GE Advanced Materials. Hexion Specialty Chemicals formed in 2005 through the combination of Borden Chemical Inc., Resolution Performance Products Inc., Resolution Specialty Materials Inc. and Bakelite AG.