Momentive, a company located in Colonie, New York will be merging with Hexion as of October 1, 2010. The company employs thousands of capital region residents.
Momentive will be merging with Ohio based company Hexion. The two companies
together will be “a global leader in specialty chemicals and materials.” The new company will operate under the name Momentive Performance Materials,
but the company headquarters will be moved to Ohio.
The company has a location in both Waterford, with 1000 employees, and in Colonie, with 100 employees. It has been said that the company
will maintain a “significant presence” in Colonie, where its silicon business
will continue to be headquartered.
This sounds promising for employees, but there has not been
an official announcement as to how this merge will affect current employees at
both capital region locations.