Momentive- Hexicon merger complete

TAIPEI: Momentive Performance Materials Holdings, the parent company of Momentive Performance Materials, and Hexion LLC, the parent company of Hexion Specialty Chemicals, have completed the previously announced merger of Hexion and Momentive.

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According to The Business Review, the new company goes by the Momentive name, but its headquarters are in Columbus, Ohio, where Hexion was centered. Former Hexion executives are now running the new Momentive, it added.

The merger has created a chemical and materials vendor with 117 production facilities, more than 10,000 associates, pro forma annualized sales of approximately $7.5 billion and pro forma adjusted EBITDA of $1.24 billion, making it one of the world’s largest specialty chemicals and materials companies.

Momentive Performance Materials was formed in 2006 through the acquisition of GE Advanced Materials. Hexion Specialty Chemicals was formed in 2005 through the merging of Borden Chemical, Resolution Performance Products, Resolution Specialty Materials, and Bakelite AG.