Momentive moves to speciality silicones
Momentive Performance Materials has outlined what it calls “a series of steps to accelerate its global transition from commodity basics chemicals to speciality silicones”. By the end, it expects to have 300 fewer employees in the Capital Region, where it is also considering investment in R&D facilities.
The company will invest $15 million in advanced electronic materials production at its Waterford site in New York state. This is part of a $40 million global investment to drive growth in areas including advanced aerospace, 5G telecommunications, automotive electronics and advanced display applications. It is due to be operational in mid-2021.
The Waterford facility will in addition see a two-year process to phase out basics chemical production, subject to discussions with unions and starting in 2021. It will become a global centre specialising in advanced silicone technologies.
Momentive has also agreed to sell its GE-branded Consumer Sealants business line to Henkel, subject to customary closing conditions including regulatory clearances. It will continue to manufacture them for Henkel until the end of 2021 through a transition supply agreement. The firm said that this “will enable greater focus on unique silicones and speciality applications where Momentive has a strong ability to win”.