MOMENTIVE PERFORMANCE MATERIALS
Momentive Performance Materials Inc . ( Momentive ) is a global leader in silicones , quartz and ceramics , with a 70 year heritage of being first to market with performance applications for major industries that support and improve everyday life : we took a look at how supply chain excellence underpins its global manufacturing best practices .
Less than a year after the global silicones , quartz and ceramics specialist Momentive Performance Materials Inc . ( Momentive ) filed for bankruptcy , saddled by corporate debt it could no longer service , a leaner and fitter company has emerged . A balance sheet restructuring plan eliminated more than $ 3 billion of debt : now instead of having to find $ 345 million in interest payments every year , it now faces a $ 50 million bill , which is well manageable given Momentive ’ s level of annual turnover , in the region of $ 2.6 billion .
For William Duty , Director of Momentive ’ s Supply Chain Center of Excellence , the last year has been like a release after a period of confinement . Billy Duty has more than 20 years of supply chain experience under his belt , during which time he has passed through seven mergers or acquisitions , so he is no stranger to corporate change . He has been working in silicones since 1994 , not long after the $ 300 million acquisition of Union Carbide ’ s silicone business by DLJ Merchant Banking Partners L . P . After going through the GE acquisition of Crompton ’ s silicone division , he stayed with the business as Director of SIOP ( sales , inventory and operations planning ) when it was spun off by GE to Leon Black ’ s Apollo Global Management LLC to form Momentive in 2007 . In 2010 , there was further adaptation as Momentive was combined with another Apollo-owned company , the specialty chemicals company Hexion , and then last year ’ s post Chapter 11 decoupling
78 June 2015