WILMINGTON, Del. (April 25, 2011)—Momentive Performance Materials Holdings L.L.C. is planning to launch an initial public offering.
The silicones and specialty chemicals producer filed documents with the U.S. Securities and Exchange Commission indicating it will issue its shares to the public through an IPO.
A prospectus released by Momentive said its silicone and quartz products segment had net sales of $2.6 billion in 2010, with EBITDA earnings of $489 million. The company said it had annual sales growth of 24 percent and EBITDA margins of 19 percent.
Momentive was created on Oct. 1, 2010, through the combination of the holding companies that owned the MPM Group and the MSC Group. The business is the former GE Silicones operations.