The capital structures of both Momentive Performance Materials Holdings Inc. and Hexion LLC and their respective subsidiaries will remain separate and in place. Thus, the transaction does not require any additional financing. Upon closing, with 117 production facilities, more than 10,000 associates, pro forma annualised sales of approximately USD 7.5 billion and adjusted EBITDA of USD 1.24 billion, the new Momentive will be one of the world's largest speciality chemicals and materials companies. The new company will have operations located to serve all major regions of the world with a broad portfolio of speciality performance products for industrial and consumer markets.Affiliates of investment firm Apollo Management, L.P. own a controlling interest in both Hexion and Momentive. Based in Columbus, OH, USA, Hexion serves industrial customers with a wide range of speciality chemicals. Momentive, based in Albany, NY, USA, provides industrial customers and consumers with silicone- and quartz-based speciality materials.Craig O. Morrison, Chairman and CEO of Hexion, will become Chairman and CEO of the combined company upon completion of the merger. Dr. Jonathan Rich, President and CEO of Momentive, will join the Board of Directors of the newly formed company and will continue his association with Apollo Management. In addition, William H. Carter, Executive Vice President & CFO for Hexion, will assume that role in the new company. Tony Colatrella, CFO for Momentive, will assist in the transition. Steven Delarge, President of the Americas for Momentive, will become President of a new global Silicones & Quartz Division within the new Momentive organisational structure.The new company will be headquartered in Columbus, OH, and will maintain a significant presence in Albany, NY, where its silicones business will continue to be headquartered.Hexion was formed in 2005 through the combination of Borden Chemical, Inc., Resolution Performance Products, Inc., Resolution Specialty Materials, Inc., and Bakelite AG. Momentive was formed in 2006 through the acquisition of GE Advanced Materials.