Momentive Performance Materials Holdings LLC is the ultimate parent company of Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. (collectively, "Momentive").
Momentive is a global leader in specialty chemicals and materials, with a broad range of advanced specialty products that help industrial and consumer companies support and improve everyday life. The company uses its technology portfolio to deliver tailored solutions to meet the diverse needs of its customers around the world.
Momentive was formed in October 2010 through the combination of entities that indirectly owned Momentive Performance Materials Inc. and Hexion Specialty Chemicals, Inc. The capital structures and legal entity structures of both Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. (formerly known as Hexion Specialty Chemicals, Inc.), and their respective subsidiaries and direct parent companies, remain separate. Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. file separate financial and other reports with the Securities and Exchange Commission. The new Momentive is controlled by investment funds affiliated with Apollo Global Management, LLC.
Silicones and quartz producer Momentive Performance Materials Inc. has entered into a Restructuring Support Agreement with certain of its key stakeholders regarding the terms of a balance sheet restructuring plan that will strengthen the Company's financial position by reducing long-term debt and enhancing liquidity. To implement this "pre-negotiated" plan, MPM and its U.S. subsidiaries has voluntarily filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York in White Plains, NY.
All of Momentive Performance Materials' silicones and quartz businesses will continue to operate in the ordinary course throughout the Chapter 11 process. Momentive Performance Materials' operations outside the U.S. are not included in the Chapter 11 proceedings. The filing relates solely to MPM and not to Momentive Specialty Chemicals Inc. (MSC), which has a fully independent debt capital structure and a separate and strong balance sheet. Learn more at www.momentive.com/mpmrestructuring.
|Momentive Performance Materials Holdings LLC||Momentive Specialty Chemicals Inc.||Momentive Performance Materials Inc.|