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People & Business :: Companies
Momentive Loss Narrows During 2009
2:44 PM MST | March 9, 2010 | Vincent Valk
Momentive Performance Materials recorded a narrowed loss during the year ended December 31, 2009, the company announced today. Momentive's net loss totaled $41.8 million in 2009, compared to $997.1 million in 2008. Sales declined to $2.08 billion from $2.64 billion in 2008. The company recorded an operating income of $40.3 million, compared to an operating loss of $836.6 million in 2008, when an $857.5 million impairment charge dragged down results. Sales fell due to the recession, the company says. However, silicones segment sales increased sequentially after...
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