{"id":35558,"date":"2020-11-12T04:30:44","date_gmt":"2020-11-12T09:30:44","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=35558"},"modified":"2020-11-22T17:40:36","modified_gmt":"2020-11-22T22:40:36","slug":"momentive-performance-materials-finalizes-sale-of-sealant-business-to-german-group","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/11\/momentive-performance-materials-finalizes-sale-of-sealant-business-to-german-group\/","title":{"rendered":"Momentive Performance Materials Finalizes Sale Of Sealant Business To German Group"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Momentive Performance Materials Inc. in Waterford has closed on the previously announced sale of its consumer sealants business to Henkel Corp., a chemical and consumer good company headquartered in Germany.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The sale comprises a portfolio of consumer sealants sold under license from General Electric Com. and available through home-improvement centers, major retailers and hardware stores. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Momentive officials said the transaction does not include the GE-branded construction sealants product line, which will remain a Momentive focus.<\/span><\/p>\n<p><!--more--><\/p>\n<p class=\"p1\"><span class=\"s1\">The sale \u201cis another step toward building Momentive\u2019s future and will allow us to better focus on silicone and specialties products for growing markets and advanced customer applications,\u201d said Momentive President and CEO Sam Conzone. \u201cWe look forward to shifting our focus and investments toward specialty businesses where we have unique capabilities to win.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Momentive develops advanced silicone and specialty products for innovative applications in healthcare, telecommunications, electronics, personal care, construction, transportation, agriculture, energy and many other industries.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Momentive previously announced plans to invest $15 million in specialized electronics materials production at its Waterford plant. The company is investing $40 million overall as part of its global transition from commodity basics chemicals to specialty silicones.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The Valence Group of Piper Sandler acted as financial advisor to Momentive Performance Materials.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Momentive Performance Materials Inc. in Waterford has closed on the previously announced sale of its consumer sealants business to Henkel Corp., a chemical and consumer good company headquartered in Germany. The sale comprises a portfolio of consumer sealants sold under license from General Electric Com. and available through home-improvement centers, major retailers and hardware stores. [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35558","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Momentive Performance Materials Finalizes Sale Of Sealant Business To German Group - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/11\/momentive-performance-materials-finalizes-sale-of-sealant-business-to-german-group\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Momentive Performance Materials Finalizes Sale Of Sealant Business To German Group - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Momentive Performance Materials Inc. in Waterford has closed on the previously announced sale of its consumer sealants business to Henkel Corp., a chemical and consumer good company headquartered in Germany. The sale comprises a portfolio of consumer sealants sold under license from General Electric Com. and available through home-improvement centers, major retailers and hardware stores. 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