Kissimmee, Florida –Momentive will focus harder on innovation, with tough goals for new product launches, said Tony Lanchak, vice president, Momentive performance materials
Momentive to have 25% "genuinely new" products/year
Speaking on the sidelines of the CPI meeting in early October he said: “We have a new leadership team since emerging from Chapter 11 bankruptcy protection, and we are trying to foster a much more growth culture.” Lanchak continued: “Many times the focus was not as much on growth as it really needed to be, our focus was on controlling cash.”
He added the company’s post-Chapter 11 structure is designed to focus on growth. ”It’s been some time since we were able to do that. The new focus in on long term development of new products,” Lanchack said.
“I think we all need to invent all the time,” he said.
Lanchak’s goal is to have 25% of Momentive’s portfolio made up of “genuinely new products” in five years’ time.
To get there Momentive has set one, three and five year targets. Achieving the goal would make Momentive’s performance “world class,” Lanchack added.
This will be achieved by devoting more resources to R&D to make the area stronger, the Momentive vice president said. “Some of the technology developments will be incremental but we start to focus on these to push the ball forward,” he added.
A key drive of this process will be to listen to customers, Lanchak said. He added: “They ask ‘is the performance good enough for us to use?’, then ‘can we use less?’” he said.
Momentive will continue with its fundamental chemistry in Bangalore, India. This is important for “the longer term within the business. Fundamental chemistry will reach the rest of the world, but it will be implemented at a different level,” he concluded.