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Chennai, June 19

The US-based Momentive Performance Materials (formerly, GE Advanced Materials) has inaugurated its new manufacturing facility in Chennai. The company had said in January 2006 that it would invest Rs 100 crore in setting up the facility. It had said that the facility to manufacture silicones would come up on 15 acres at Oragadam near Chennai. Silicones find applications in a number of industries, ranging from automotive to textiles to construction. Momentive has also set up an ‘application development centre’ at Chennai. Momentive Performance Materials, a premier specialty materials company, is a company created by the sale of GE Advanced Materials business to Apollo Management, LP, a private equity fund. The sale happened in early December 2006 for $3.8 billion.

— Our Bureau

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