Monday, August 17, 2020
Momentive Performance Materials Inc. recently announced that it will sell its Consumer Sealants business to Henkel. The sale includes the GE-branded consumer sealants, sold through home-improvement centers, major retailers and hardware stores. According to the release, excluded from the sale are the GE-branded construction sealants product line, which will remain a Momentive product.
Financial terms of the sale, announced August 5, were not disclosed. The proposed sale remains subject to customary closing conditions including regulatory clearances. Henkel’s brands for the woodworking industry include Loctite/Loctite Purbond, Technomelt PUR and Metylan.
Momentive said it will continue to manufacture the consumer sealants through 2021 at its facility in Waterford, New York, under a transition supply agreement. The company said the move away from consumer sealants will allow it to place a greater focus on its advanced silicones and specialty applications businesses.
“Millions of homeowners and commercial builders have relied on GE-branded consumer sealants for decades, and we remain very proud of that legacy,” said President and CEO Sam Conzone, Ph.D. “Selling this business to Henkel allows Momentive to fully focus our attention and resources on innovating and growing with advanced products that enable our customers’ success.”
News Source- woodworkingnetwork.com
Tags: amalgamation, henkel, momentive, Performance Materials, salient, woodworking and manufacturing