The acquisition of Momentive Performance Materials (MPM, Waterford, New York / USA; www.momentive.com) by the South Korean consortium that includes chemical company KCC (Seoul / South Korea; www.kccworld.co.kr) is complete – see Plasteurope.com of 25.09.2018.

MPM will now most likely be divided among the members of the consortium, with KCC integrating the Formulated and Basic Silicones and Performance Additives plastics divisions including the two segments’ activities in hard coating for plastic glazing, silicone elastomers, polyurethane additives, adhesives and resins into its own silicone activities. Wonik QnC (Gumi / South Korea; www.wonikqnc.com/eng) will take over MPM’s quartz and ceramic business, and the third buyer, SJL Partners (Seoul; www.sjlpartners.com) will be involved in both.

Jack Boss will continue as CEO of MPM. In 2018, the silicone specialist did well after business had previously been down. Total sales grew by 16% to USD 2.7 bn (EUR 2.4 bn), with around USD 2.5 bn being generated by the company’s plastics businesses. EBITDA increased by a third to USD 400m, with net income at USD 69m.