Monday, October 22, 2007

3M to Acquire Unifam Sp. z o.o.

3M to Acquire Unifam Sp. z o.o.
ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has entered into a definitive agreement to acquire Unifam Sp. z o.o., a manufacturer of cut-off wheels, depressed center grinding wheels and flap discs. Terms of the transaction were not disclosed.
Unifam supplies conventional bonded wheels and flap discs used to cut and grind materials such as metallic sheet, rod, pipe and welds, for markets that include metalworking, shipbuilding, heavy equipment manufacturing and construction. Unifam currently produces products for 3M that feature 3M’s Cubitron Abrasive Grain, a ceramic aluminum oxide mineral designed to deliver a higher cut rate and longer life in demanding production environments.
“Abrasives made with Cubitron grain have exceptional durability and improved cutting efficiencies. Adding Unifam allows us to expand and build on our understanding of how we can apply Cubitron technology in even more products beyond the current offering,” said Chris Holmes, vice president and general manager, 3M Abrasive Systems Division. “In addition to strong technical synergies, we also see manufacturing opportunities with Unifam.”
“Investing in a local company from the industrial sector expands our product portfolio and will allow us to better support our customers’ growth in Europe and beyond,” added Jose Del Solar, managing director, 3M Poland.
“The acquisition of Unifam by 3M is very important because 3M brings its technology, expertise and global reach to our already strong reputation and will continue to build our business throughout the world,” said Jacek Lasota, president, Unifam.
Complementary acquisitions such as this support both 3M’s core business and growth strategy to expand into adjacent markets. Unifam employs approximately 95 people at its facility in Skomielna, Poland. The transaction is expected to close in the fourth quarter, subject to customary closing conditions.
3M Abrasive Systems Division is 3M’s “heritage business,” upon which the company was founded in 1902. 3M's brands are recognized around the world, making the company a leading abrasives supplier to manufacturers of medical, electronics, aerospace, automotive and thousands of other products. 3M abrasive technologies and brands, including Cubitron, Scotch-Brite, and Trizact, mean customers can trust 3M to provide quality, innovative products and solutions for virtually every purpose – from cutting and grinding to finishing and polishing.
About Unifam Sp. z o.o.
Since 1994, Unifam has offered cut-off wheels, depressed center grinding wheels and flap discs to domestic as well as foreign markets. Manufacturing headquarters are located in Poland. With the use of computer controlled processes, the most modern machines available, and an experienced workforce, Unifam delivers world class product to many satisfied customers.
About 3M – A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company’s customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation.
3M, Cubitron, Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.
3MStephen Sanchez, 651-737-5967 (Media)Matt Ginter, 651-733-8206 (Investors)Bruce Jermeland, 651-733-1807 (Investors)or3M PolandIlona Gajewska, + 48 22 739 60 24 (Media)