Growth boosted by strong performance in silicones segment
Momentive Performance Materials has announced a growth of 12% in net sales for its second quarter, ended 27 June. Net sales grew to $728m, compared to $651m in the same period last year.
The growth was mainly attributed to an increase in selling prices, favourable exchange rate fluctuations and higher sales volume.
“Our second quarter 2011 results reflected strong global demand for our speciality products,” commented Craig O Morrison, chairman and ceo.
The company’s silicones business in particular, helped drive growth. Net sales grew 11% to $640m, compared to $576m the previous year.