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KCC to acquire 100% of Momentive Performance Materials

Seoul-based chemicals manufacturer KCC Corporation is to acquire all the remaining shares in US subsidiary Momentive Performance Materials.

The move follows the exit of minority shareholder SJL Partners, a private equity investment management firm also based in Seoul, Korea.

In 2019, KCC acquired MOM Holding Co., the parent company of Momentive, for $3.1 billion and upped its stake in Momentive Performance Materials to 60% in 2021.

"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.

"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,” he added.

Mong Jin Chung, chairman of KCC Group and Momentive, added: "Momentive has a 75-year track record of developing and manufacturing silicones and speciality solutions.

“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.

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Upcoming Events

9th Anti-Ageing Skin Care Conference

Royal College of Physicians, London
25th - 26th June 2024

in-cosmetics Korea 2024

Hall C, Coex, Seoul, South Korea
24th - 26th July 2024

in-cosmetics Latin America 2024

São Paulo, Brazil
25th - 26th September 2024

IFSCC 2024

Recanto das Cataratas Thermas Resort, Iguazu Falls, Brazil
14th - 17th October 2024

SEPAWA

Estrel Congress Center, Berlin
16th - 18th October 2024

Cosmetorium

Palau de Congressos de Barcelona
23rd - 24th October 2024

Access the latest issue of Personal Care Magazine on your mobile device together with an archive of back issues.

Download the FREE Personal Care Magazine app from your device's App store

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