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Markets :: Basic Chemicals :: Inorganic Chemicals :: Silicones

Momentive Swings to Profit in Fourth Quarter

10:16 AM MST | January 22, 2010

Momentive Performance Materials reported preliminary operating income of $50 million-$60 million in fourth-quarter 2009, compared with a loss of $933.2 million in the year-ago period. Sales are expected to be about $600 million-$610 million, compared with $545.3 million in the year-ago quarter. “Demand in the fourth quarter continued to improve on a sequential basis, in line with our previous guidance, but remained well below normalized historical levels,” says president and CEO Jonathan Rich. “Our strong year-over-year fourth quarter...

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