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Waterford-based Momentive eyes Chapter 11

Company cites substantial debt, weak demand

Momentive Performance Material is on the verge of filing for bankruptcy protection. Pictured on Monday is the Waterford plant at 260 Hudson River Road.
Photographer: Marc Schultz
Momentive Performance Material is on the verge of filing for bankruptcy protection. Pictured on Monday is the Waterford plant at 260 Hudson River Road.
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Momentive Performance Materials is close to finalizing a plan that would keep one of the region’s largest employers in business for the long term, a company spokesman said Monday.

The Waterford-based silicone and quartz producer reported last week that it is considering filing for Chapter 11 bankruptcy protection because that could be the “most expeditious manner” of reorganizing the company’s capital structure and reducing its debt, according to an April 1 filing with the ...

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