Recently, Momentive, the world's second-largest silicone manufacturer and a leading enterprise in the field of high-performance silicone and specialty solutions, has ushered in a new major transformation. This company, with a glorious 75-year history, is expected to be fully acquired by its major shareholder, Korea's largest paint company, KCC Corporation (as referred to KCC below), while its minority shareholder SJL Partners LLC may leave its position.
KCC ranked 8th in the Asia Pacific Coatings Top-70 list released by the China Coatings Industry Association on March 27th, second only to China's 3Trees Group and India's Berger Paints Inc. KCC was founded in 1958, headquartered in Seoul, South Korea, engaged in the silicone resin business, as well as the research and production of silicone products in the fields of special coatings and precision chemical engineering.
Momentive has a 75-year history in developing and manufacturing silicone and specialty solutions, making it world's second-largest silicone manufacturer located between Dow Corning in the USA and Wacker Chemie in Germany. Momentive has occupied an important position in the fields of special silicone, silane, and special ceramic products. The company provides quality products and services to over 4,000 customers in over 100 countries worldwide.
Dr. Sam Conzone, the President and CEO of Momentive, said, "We are pleased that the 100% ownership of KCC will bring opportunities for Momentive and the wider KCC company. We look forward to continuing and expanding our partnership with KCC's excellent team, to provide professional products to achieve solutions for a sustainable world."
KCC has demonstrated strong strategic layout in the research and production of silicone products. With the comprehensive acquisition of Momentive, KCC is expected to stand out in the dominant silicone markets in the United States, Japan, Germany, and expand its comprehensive building materials and interior decoration business in advanced materials, coatings, glass, flooring, doors and windows globally. Looking ahead to the future, the marvelous collaboration between KCC and Momentive will effectively promote innovation and development in the global silicone market.
--- By Zephyr Hsiao
Advanced Silicone Materials R&D
SAGSI & ACMI
Email: xiaofengxiao@acmi.org.cn
Tel: +86-13886125276
Affiliates:
https://acmi.org.cn/en/index.aspx
http://event.chinasilicon.com/
