Momentive Performance Materials, a new company created through the sale of GE's Advanced Materials business to Apollo Management, will now operate as a single global entity focused on technology and service excellence in the silicones, quartz and ceramics industries, says a company spokesman.

“The acquisition, which was completed recently for $3.8 billion, represents another stellar brand added to Apollo’s strong portfolio of chemical businesses,” says the spokesman.
“The former GE Advanced Materials management team, led by president and CEO Wayne Hewett, will continue its role in the new business. In addition, the former joint ventures GE Bayer Silicones and GE Toshiba Silicones, their employees and their management team are now part of Momentive Performance Materials,” he added.
“We see this as a unique opportunity to build a new and exciting organization created from three global industry leaders,” Hewett said. “Our current and future customers will benefit from the best practices that have made GE an admired company, and from the deep industry expertise and financial resources that Apollo has to offer. Momentive is now a stand-alone company, and we have the added flexibility and increased focus to operate more nimbly in the marketplace, helping our customers achieve their strategic, product design and business objectives.”
A leader in private equity, debt and capital market investments, Apollo has significant expertise and experience in the chemical industry.
“AdvancedMaterials is a global leader in a wide range of high-technology materials solutions. It has a world-class management team, a robust technology portfolio and strong research and development. This combination makes it an extremely valuable asset and gives Apollo a solid foundation to profitably grow this business and create long-term value,” said Joshua Harris, founding partner Apollo Management.
“Momentive Performance Materials is a premier specialty materials company with a proud history and promising future,” Harris said. “We look forward to supporting the management team as they take the company to a new level, investing in new high-impact products, developing new market segments and applications, finding new customers, and focusing on emerging growth markets.”
Momentive Performance Materials’ silicones portfolio includes silicone-based products and technology platforms, silanes, sealants and adhesives. The company’s quartz portfolio includes high-purity fused quartz and ceramics materials.
Founded in 1990, Apollo Management is a recognised leader in private equity, debt and capital markets investing. Since its inception, the company has successfully invested over $16 billion in companies representing a wide variety of industries, both in the US and internationally.