Momentive (formally known as Hexion Specialty Chemicals) is a producer of binder, adhesive, coating and ink resins for industrial applications. It claims be the world's largest specialty chemicals and materials producer, with pro-forma sales of around $7.5bn (2009) across various end-markets and geographies. It is headquartered in Columbus, Ohio, US, its silicones and quartz business is headquartered in Albany, New York and employs around 10,000 people.
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The company was formed through the combination of privately owned Borden Chemical, Bakelite, Resolution Performance Products and Resolution Speciality Materials in 2005.
Hexion Specialty Chemicals and Momentive Performance Materials combine businesses and operate under the Momentive name.
On 1 October 2010, Hexion Specialty Chemicals and Momentive Performance Materials completed the combination of their businesses. The new company will operate under the Momentive name. The private equity firm Apollo Global Management owns Momentive. For more on this please see US Hexion, Momentive complete deal to combine operations on ICIS news.
On 15 December 2008, Huntsman settled for $1bn (€750m) to end its merger deal with Hexion.
The deal was first announced in July 2007. For more on this please see ICIS news.
Momentive operates three global business divisions: Silicones and Quartz; Epoxy, Phenolic and Coating Resins; and Forest Products.
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Momentive (formally known as Hexion) will focus on developing new products that will make it more competitive; remaining aware of competition from other chemical companies; competition from producers of materials that are substitutes for formaldehyde-based resins that could lead to declines in its net sales; concentrate on acquisitions and joint ventures that it has pursued and may present unforeseen integration obstacles and costs, increase its leverage and negatively impact its performance; and further concentrate on its growth strategy. ICIS also provides you with key financial data listed in table form.
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