NY-MOMENTIVE-PERFORMANCE
Momentive Performance Materials Inc. (“Momentive” or the “Company”) announced a strategic expansion of its Leverkusen, Germany site as part of its global initiative to expand production capabilities serving the automotive markets. The Company will invest approximately $30 million to expand its NXT* silane manufacturing capacity at Leverkusen. This expansion will enhance our capability for meeting the growing demand for innovative products that help global tire producers improve product performance. The NXT silane manufacturing facility is expected to begin production in late 2017.
“The expanded capacity will enable us to better serve our customers as Momentive continues to make strategic capital investments in our specialty technologies,” said Jack Boss, President and CEO. “The project in Leverkusen is well aligned with our targeted growth plans in the global automotive industry and is a key component of our ability to offer a comprehensive portfolio of specialty products. The Leverkusen site will make locally-produced NXT silane material available in Europe for the first time. The strategic location, proximity to key customers, and a dedicated workforce expected to grow as a result of the expansion make Leverkusen the ideal choice after carefully considering other sites within the Momentive network.”
Mr. Boss added: “We will continue to build on our 75-year plus heritage of continually driving innovation across our specialty chemicals portfolio and providing customers around the globe with value-added and differentiated products and services.”
When NXT silanes are included in silica tire compounds, they can offer tire manufacturers the ability to reduce rolling resistance without the loss of wet traction.
“As tire manufacturers continue to work towards reducing fuel consumption and carbon dioxide emissions, NXT silane can play a large role in delivering benefits such as rolling resistance, traction and fuel economy in tires,” said Rich Owins, Vice President, Silanes. “Our tire team has a tremendous depth of industry experience with over 50 patents to date, and we will continue to drive investment into R&D for tire silanes in order to provide new, innovative solutions for our customers.”
About Momentive
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 opportunities for customers. Momentive Performance Materials Inc. is an indirect wholly-owned subsidiary of MPM Holdings Inc. Additional information about Momentive and its products is available at www.momentive.com .
Except for historical information, the matters discussed in this press release are forward-looking statements relating to our business. Forward-looking statements are based on management's expectations as of the date hereof. Actual results may differ materially from those expressed or implied by the forward-looking statements. We have no obligation to update any of the information contained or referenced in this press release.
*NXT is a trademark of Momentive Performance Materials Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160215005357/en/
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Momentive Performance Materials Inc.
Ashley
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Ashley.Conger@momentive.com
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