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Momentive Performance Materials considers Chapter 11 filing

6:28 AM MDT | April 4, 2014 | –Robert Westervelt

Momentive Performance Materials (MPM; Albany, NY), the silicones and quartz operations of Momentive, is considering a bankruptcy filing as part of ongoing negotiations to reduce debt. “As part of this process, a filing under Chapter 11 of the US Bankruptcy Code may provide the most expeditious manner in which to effect a plan of reorganization,” MPM said in a SEC regulatory filing on 1 April. MPM said it “believes these discussions will be concluded shortly.” MPM had outstanding long-term debt of $3.2 billion as of 30 September 2013. “MPM is in active...

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