MOMENTIVE is a privately held subsidiary of Apollo Management LP
Momentive was formed by Apollo Management in 2006 when it acquired the GE Silicones business. Hexion is also part of Momentive. It operates as Momentive Specialty Chemicals, Inc. The product line includes quartz and ceramics in addition to silicones and sealants, as well as phenolic and amino resins, acrylic monomers, unsaturated polyester resins, coatings, composite resins, epoxy resins, uv curable coatings, textile resins, wax products, and forest product resins.
In 2014, Wall Street Journal reported that Momentive would miss an interest payment due April 15, and prepared to file bankruptcy.
In 2014 Momentive Specialty Chemicals announced plans to build two formaldehyde plants in Louisiana that will supply BASF and Huntsman plants. The plants make MDI, a common isocyanate. The formaldehyde will be supplied by pipeline. Momentive claims to be the world's largest producer of formaldehyde.
Recent Mentions on Fool.com
- Why Mortgage Pre-Approvals Matter for Buyers and Sellers
- Facebook: A Prosocial or Antisocial Stock?
- The 3 Best Stocks to Invest in to Profit From Rising Dayrates
- What's Bugging Precision Castparts?
- These Stocks Just Raised Their Dividends
- Is J.C. Penney Inc.'s Stock a Buy?