Momentive Performance to invest $ 20 mn in new facility

Chennai, Jan 17 (UNI): Momentive Performance Materials Inc (formerly GE Advanced Materials), a speciality materials company, today announced investments worth 20 million USD in setting up a state-of-the-art manufacturing facility and a world-class technology centre for global research&development in Chennai.

A press release quoted Company CEO and President Wayne Hewett as saying ''our current and future customers will benefit from the best practices that have made GE an admired company.

''Momentive is now a stand-alone company and we have the added flexibility and increased focus to operate more nimbly in the market place helping our customers achieve their strategic, product design and business objectives.'' The former GE Advanced Materials management team will continue with their roles in the new business, too.

Momentive India Managing Director V P Nalian said ''the company will carry forward its legacy in India.

''We are excited about expanding our presence in India under this new identity and we look forward to supporting the customers with the same enthusiasm.'' UNI SNR GM 1751