Steady as She Goes for Momentive in Q3
2018-11-14    [Source:utech-polyurethane]

Waterford, New Jersey – Sales in Momentive’s performance additives division, which includes polyurethane surfactants, grew 7.1% in the third quarter of 2018.

The division had sales of $239 m in the quarter, compared with $223 in the equivalent 2017 quarter.

EBITDA grew from $45 m in the third quarter of 2017 to $47 m in the 2018 quarter. That is a rise of 4.4%, but the margin in the business was almost unchanged.

Jack Boss, CEO, said: ‘Our strong quarter results demonstrate incremental progress against our strategy to grow EBITDA. As we look out into the remainder of 2018, we continue to expect strong demand.’

As a whole, Momentive had sales of $687m in the quarter. These were up 16% on the $594 recorded in the 2017 quarter.

EBITDA grew from $67 m in the third quarter of 2017 to $102 m; this represents an increase of 52%.

Much of this increase came from the company’s formulated and basic silicones segment.

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