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[July 2008]
Momentive Announces Plans to Build Technology Centre and Global HQ
Jonathan Rich, President and CEO of Momentive Performance Materials Inc, (Waterford, NY, USA) has announced plans to build a state-of-the-art Technology Centre and Global Headquarters in Rensselaer County, NY, USA. Plans are already underway to relocate the company’s headquarters to the Capital District beginning 1 August 2008. The new facilities will employ 250 people with a total annual payroll of approximately US$38 million. Around 150 of these jobs are new to the Capital Region.
“We strive to make our customers successful,” explained Mr Rich. “To continue to meet and exceed our customers’ needs, we need a world-class Technology Center for our top-notch talent to design and develop innovative products in order to compete in this highly competitive industry.”
Momentive currently has multiple R&D centres globally, including a 60 year-old centre at Waterford. “In these difficult economic times, New York needs to make smart investments that create jobs and help improve the local economy. This does both,” said Governor David Paterson. “We are delighted that Momentive is moving their Global Headquarters to the Capital Region, and I want to thank Joseph Bruno and Assembly Majority Leader Ron Canestrari for their efforts. With its high quality of life and educated workforce, Upstate New York is well suited for business, and I am quite sure that Momentive will be very happy with this move.”
Momentive Performance Materials is the world’s second largest producer of silicones and silicone derivatives and a global leader in the development and manufacture of products derived from quartz and specialty ceramics. The company was created from the sale of GE Advanced Materials to Apollo Management LP in December 2006.
www.momentive.comENDS