Waterford New Jersey — Momentive, which makes polyurethane surfactants, had sales in its performance additives business of $973m in 2018, up 8.1% on the 2017 amount. EBITDA in the division rose 2.7% and reached $193m in 2018.
The company said that about half of the $73m increase the division's net sales was a result of higher volumes. Additionally, $24m was attributed to a favourable price and product mix while $1 m was because of a weaker dollar.
Overall, Momentive Performance Materials had sales which rose 16.0 % between 2017 and 2018. EBITDA across business rose 25.4% and reached $627m in the 2018 financial year.
Looking ahead to the 2019 financial year, the company said it expects industry fundamentals to improve, and growth to result. This is despite the slowdown in China, increased volatility, and the impact of the US-China trade war. It aims to move further into higher-margin materials.
The company added that the increase of its stake in Zhejiang Xinan Momentive Performance Materials from 25% to 49% will help to secure raw materials. That deal closed in October 2018, according to an SEC filing.
The company does not expect Brexit will affect its business materially.
|Momentive numbers 2018 ($m)|
|Additive Division||2018||2017||Change %|