From Rubber & Plastics News
Waterford, New York -- Momentive Performance Materials Inc. said it will build a technology centre and global headquarters in Rensselaer County, New York.
The company announced on 10 July that it will close its headquarters in Wilton, Connecticut, when its lease expires at the end of August.
The new facilities will employ 250, with 150 of those jobs new to the region, the company said.
"In these difficult economic times, New York needs to make smart investments that create jobs and help improve the local economy. This does both," Governor David Paterson said. "We are delighted that Momentive is moving their global headquarters to the Capital Region."
Construction on the technology centre is expected to begin in 2009, with construction of the head office to begin following the tech centre's completion.
The technology centre will cost about $65 million, while the new main office is expected to cost $16 million.
For the polyurethanes industry, Momentive produces a range of additives, including catalysts, antifoaming agents and release agents, as well as silylated polyurethane prepolymers for the adhesives and sealants sector. The company was created from the sale of GE Advanced Materials to Apollo Management LP in December 2006.