Momentive Performance Materials Inc. recently announced results for the fourth quarter and year ended December 31, 2014. Net sales for the three months ended December 31, 2014, were $603 million, a decrease of 2% compared with $614 million in the prior year period. The decline in net sales was reportedly primarily driven by the strengthening of the U.S. dollar against other currencies, which more than offset price and mix improvements in silicones.
Net sales for the 12 months ended December 31, 2014, were $2.48 billion, an increase of 3% compared with $2.4 billion in the prior year. The increase in net sales was primarily driven by an increase in silicones volumes.
“We were pleased to post continued improvement in our silicones business in the fourth quarter and fiscal year 2014 and begin a new era for Momentive Performance Materials by successfully completing our balance sheet restructuring,” said Jack Boss, president and CEO.
For more information, visit www.momentive.com.