KCC Corporation completes acquisition of Momentive Performance Materials Group

Date:05-15-2024

Momentive Performance Materials group (Momentive), a global high-performance silicones and specialty solutions company,  announced that it has been fully acquired by KCC Corporation (KCC), resulting in the exit of minority shareholder SJL Partners, LLC. KCC, the company's majority shareholder since 2020, announced the anticipated sale in March.

″We are excited to fully bring Momentive into the broader KCC Corporation and anticipate a positive impact with the ownership change as we shift from a private equity mindset to a more strategic and long-term approach, said Momentive President and CEO Sam Conzone, Ph.D. ″We look forward to having KCC Corporation as our sole shareholder to support our growth through our people, technology, and innovation.″

″We are pleased to announce the successful completion of the transaction and to continue this partnership with Sam and the Momentive team as we focus on the next stage of growth,″ said Mong Jin Chung, Chairman, of KCC Group and Momentive.