On January 6, 2021, Momentive Advanced Materials ("Momentive") announced that it has signed an agreement to acquire the Korean KCC Group's ("KCC") silicone business in South Korea and the United Kingdom and the silicone sales business in China. The acquisition will further strengthen Momentive's global strength in high-end silicone products and professional applications.
It is understood that Momentive Quartz has a history of more than 70 years, and its roots are from the organic silicon business department of General Electric (GE), a world-renowned electrical company. In 2010, Apollo merged Momentive Advanced Materials and Hexion to form Momentive Advanced Materials Holding Co., Ltd. Momentive Map (MPM) is the world's largest producer of organic silicon and silicon derivatives, as well as the world's leading producer of quartz products and specialty ceramics. The customer base covers more than 100 countries around the world. In 2015, the overseas market accounted for 66% of the company's revenue. Used in many industries such as healthcare, telecommunications, electronics, personal care, construction, transportation, agriculture, energy, etc.
KCC is the largest paint and building materials manufacturer in Korea, with 60 years of R&D and production experience. In addition, as a global precision chemical company, KCC has entered the Chinese market since 2000, and is mainly engaged in the production of heavy-duty anti-corrosion (containers, ships, steel structures) automotive, industrial, PCM, construction and other industries.
The main reason for Momentive's acquisition of KCC's silicone business is to integrate the comprehensive strength and professional capabilities of both parties in the advanced silicone business. In order to create a grand blueprint for the silicone business and further enhance Momentive's business development in the Asia-Pacific region, including factors such as silicone.
In addition, Momentive recently announced a series of strategic measures to transform itself into an industry leader in the specialty silicone field, including the recent sale of its North American consumer sealant business to Henkel in Germany and the phasing out of The basic silicone monomer business in Watford, New York, and Momentive will invest US$15 million in the production of advanced electronic materials.
