Recently, Momentive, a 75-year-old leader in global high-performance silicones and specialty solutions, has ushered in a major new change.Momentive is expected to be fully acquired by its majority shareholder, KCC Group, Korea's largest coatings company, while minority shareholder SJL Partners LLC is expected to exit the historical stage.

Founded in 1958 and headquartered in Seoul, South Korea, Kcc Chemical is mainly engaged in the research and development, production and sales of coatings, building materials and specialty materials. Currently, there are more than 15 factories, 21 domestic branches and 16 overseas subsidiaries and branches in Korea. Among the world's top 100 paint companies, Diamond Chemical ranks 18th, which is Korea's highest ranked paint company in the world.

Momentive is the world's second largest silicone manufacturer, located between Dow Corning in the United States and WACKER in Germany. Momentive has long had a significant presence in specialty silicones, silanes, and fused quartz and specialty ceramic products. The company provides quality products and services to more than 4,000 customers in more than 100 countries worldwide, with a global network of 24 production sites and 12 research and development facilities.

It is believed that the two companies will jointly open up broader market prospects under the integration of their respective fields of expertise and market experience. Source: Momentive official website