Momentive to embark on $25m cost reduction initiative as Q3 sales decline

By Liz Gyekye
Published: Monday, 16 November 2015

The US silicones and quartz producer’s Q3 2015 sales were impacted by a strong US dollar, destocking by a number of key customers and a sluggish Chinese economy. The news comes as the company announced that it was embarking on a global restructuring programme to address market headwinds.

Momentive Performance Materials Inc. said its net sales decreased by 11% to $559m for the quarter ended 30 September 2015, compared to the same period last year, due to volume declines, a strengthening of the US dollar against other currencies and a weak Chinese market.

Momentive deals in the development and...

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