Accelerating Our Global Transition
The three steps announced on August 5, 2020 include:
- $15 million investment in specialized Electronic Materials Production in Waterford, New York.
- The sale of our Consumer Sealants Business to Henkel.
- A two-year phase out of basics chemicals production at our Waterford, New York site.
Our Continued Journey
These latest announcements underscore Momentive’s long-term commitment to our customers around the world, and to a growing and sustainable future for our employees and local communities.
We understand these changes may be exciting for some and concerning for others. While there will be new investment and expansion in some areas, there may be local impacts at our sites in Waterford, New York; Huntersville, North Carolina; New Smyrna Beach, Florida; and other locations over the next two years.
Our pledge throughout this process is to be transparent and respectful, demonstrating empathy and compassion for everyone involved in these changes. This website is a central resource for our employees, customers and communities during our transition to become a stronger, more sustainable Momentive. Check back often for updates.
“Momentive Performance Materials will spend $15 million at its Waterford factory in a move to produce higher-margin specialty silicone for aerospace, 5G communications and automotive markets. The investment is part of a companywide $40 million commitment to shift away from lower-margin commodity chemicals to focus on electronic materials growth.”
• Albany Business Review, Momentive investing $15M in Waterford, selling consumer sealant business to Henkel, August 5, 2020
Momentive Performance Materials Inc. is a global leader in silicones and advanced materials, with a 75-year heritage of being first to market with performance applications for major industries that support and improve everyday life. The Company delivers science-based solutions by linking custom technology platforms to customer needs. Additional information about Momentive and its products is available at www.momentive.com.
Update: Momentive and IUE-CWA Reach Transition Agreement
Momentive Performance Materials and IUE-CWA Locals 81359 and 81380 completed an agreement that clears the path for our continued transformation of the Waterford facility into a global center specializing in advanced silicone technologies. Read the full update here.
Momentive released its 2019 Sustainability Report detailing its efforts to elevate and integrate Sustainability into its Vision 2025.
The report provides details where our technologically deep, innovative products and solutions enable our customers and their end-users to reduce impacts on the planet. It also highlights the progress our plants have made in reducing energy consumption and reducing greenhouse gas emissions by ~13 percent. Most importantly through our people — our global diversity, community involvement, and creative ideas – we broadly impact communities around the world.
As Sam Conzone says, “Enabling sustainability is not only the right thing for our business financially, but it is also the right thing to do socially. I am excited by the possibilities of a more sustainable future and by the impact Momentive can have.”
Read the report here.
“a stronger, more sustainable future”
Momentive outlined a series of steps to accelerate its global transition from commodity basics chemicals to specialty silicones – actions that will focus the company’s strengths and expertise on advanced technologies. Momentive President and CEO Sam Conzone offers his insights as Momentive continues to prioritize and invest in specialty businesses that are driven by innovation.
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