Momentive Performance Materials Holdings Inc. (Albany, N.Y.), the parent company of Momentive Performance Materials Inc., and Hexion LLC (Columbus, Ohio), the parent company of epoxy manufacturer Hexion Specialty Chemicals Inc., completed a previously announced merger on Oct. 1. The resulting firm will retain the Momentive name. The combination creates a company with 117 production facilities, more than 10,000 employees, annualized sales of approximately $7.5 billion (USD) and a pro forma adjusted EBITDA of $1.24 billion. Headquartered in Columbus, Ohio, the new Momentive makes approximately 28 percent of its sales in fast-growing regions, including the BRIC countries (Brazil, Russia, India and China), with the balance in more mature markets (33 percent in Europe and 39 percent in North America).
The combined company is organized into three global business divisions: Silicones and Quartz, led by president Steven Delarge and headquartered in Albany, N.Y.; Epoxy, Phenolic and Coating Resins, led by president Joseph Bevilaqua; and Forest Products, under president Dale Plante. “Our new combined enterprise now can offer a broader portfolio of specialty technologies and products to meet the diverse applications needs of our global customers,” says Momentive chairman and CEO Craig O. Morrison. “These technologies include silicones, epoxies, quartz, phenolics, acrylics, aminos, acids and others that are used alone, or in combination, across thousands of critical industrial and consumer applications where superior performance is required.”
Momentive Performance Materials was formed in 2006 through the acquisition of GE Advanced Materials. Hexion Specialty Chemicals was formed in 2005, when the previously independent Borden Chemical Inc., Resolution Performance Products Inc., Resolution Specialty Materials Inc. and Bakelite AG merged into a single entity. Hexion’s (formerly Resolution Performance Product’s) epoxy resin systems are well-established in the composites industry, including EPIKOTE and EPIKURE epoxy systems formulated for wind turbine blade fabrication.