The Hindu : Business : Momentive plans unit near Chennai

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Wednesday, Jun 27, 2007
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Momentive plans unit near Chennai

Staff Correspondent

CHENNAI: Momentive Performance Materials Inc. (formerly GE Bayer Silicones), a leading producer of specialty materials, plans a greenfield investment of $20 million to set up a state-of-the-art manufacturing facility and a world-class technology centre for application development in Chennai.

The facility that will be located at SIPCOT Oragadam Industrial Growth Centre in Sriperumbudur near Chennai will triple the silicone production capacity of the company.

Addressing a press conference here on Tuesday, Ian Moore, President and Chief Executive Officer of Momentive for Europe, Middle East, Africa and India, said the new manufacturing facility was slated to go operational in 2008.

Imported raw materials

Mr. Moore said the unit would directly hire nearly 200 engineering professionals in Chennai. The indirect jobs created by the company would be two or three times more than the direct employment. He said it would, at present, import nearly 60 per cent of its raw materials from the U.S. and the balance would be sourced locally. However, he said the product made here would meet the domestic requirements.

The Managing Director, Momentive India, V. P. Nalian, said these silicone products would be used in 30 different applications such as automotive, aviation and aerospace, construction, cosmetics and home care, domestic appliances and others.

With the commissioning of the Tamil Nadu plant, the company would consolidate its existing operation in Bangalore with the new unit, he said.

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