"We are excited to fully bring Momentive into the broader KCC Corporation and anticipate a positive impact with the ownership change as we shift from a private equity mindset to a more strategic and long-term approach," said Momentive President and CEO Sam Conzone, Ph.D.
Although the company saw a decline in sales over the previous year, it maintains that this was mainly driven by considerably reduced prices as a result of lower raw materials and energy prices in almost all segments, as well as lower precious metal prices.
The 200,000-square-foot site in Westfield, Massachusetts, formerly owned and operated by National Envelope Company, commenced operations in January 2024.
In its new CIRKIT product portfolio, the company bundles all its circular coating solutions. Under a new, uniform naming concept, the company will continue to develop functional coatings paving the way for circular packaging.
The company announced a significant milestone in its commitment to sustainability with the ISCC PLUS certification for its manufacturing facility in Belpre, Ohio.