NISKAYUNA, N.Y. and SEOUL, South Korea, May 14, 2024 /PRNewswire/ -- Momentive Performance Materials group (Momentive), a global high-performance silicones and specialty solutions company, today 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.

About the Company
Momentive is a premier global advanced materials company with a cutting-edge focus on silicone and specialty products. We deliver technologies, solutions and processes designed to propel our customer's products forward—products that have a profound impact on everyday life from dawn to dusk, and from living rooms to outer space. With every innovation, Momentive aims to create a more sustainable future. Our vast product portfolio is made up of advanced silicone solutions that play an essential role in driving performance across a multitude of industries, including agriculture, automotive, aerospace, electronics, personal care, consumer products, building and construction, and more.

Momentive Performance Materials Inc. is an indirect wholly owned subsidiary of MOM Holding Company and is one of the largest producers of silicones and silicone derivatives. Additional information about Momentive and its products is available at momentive.com.

About KCC Corporation
Based in Seoul, South Korea, KCC Corporation is a leading chemicals manufacturer in Korea, specializing in paints, building materials and specialty materials. It also engages in the silicones business for developing products in the fields of specialized paints and precision chemical engineering. KCC Corporation was founded in 1958 and is headquartered in Seoul, South Korea. Additional information is available at www.kccworld.co.kr/eng/main.do.

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SOURCE Momentive Performance Materials