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Momentive Performance Materials files for Chapter 11 (updated)

5:19 PM MDT | April 14, 2014 | Francinia Protti-Alvarez and Robert Westervelt

Silicones and quartz maker Momentive Performance Materials (MPM; Albany), which is controlled by private-equity firm Apollo Management, has filed for Chapter 11 bankruptcy protection in an attempt to implement a "pre-negotiated" restructuring plan to reduce debt by $3 billion. All of MPM’s silicones and quartz businesses will continue to operate normally during this period, the company adds....

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