3M expands with acquisition

ST. PAUL, Minn. (Aug. 27)—3M has expanded its automotive product line with the purchase of Duranix urethane adhesives maker Polymer Engineering Corp. for an undisclosed amount. Terms of the transaction were not revealed, but a 3M spokesman said it does include related intellectual property and Polymer Engineering's customer base. 3M did not purchase the Oxnard, Calif.-based firm's production facility. The deal gives 3M a manufacturer of two-part polyurethane adhesives, sealants, plastic repair materials and related accessories for the automotive aftermarket and industrial markets with annual sales in the $13 million range. While 3M has a large adhesives segment, it previously did not offer the urethane variety, the spokesman said. In effect, 3M has made amajor brand addition by acquiring Polymer Engineering, he said. "We get a strong, well-established brand in the automotive repair industry, which gives us a quick expansion of our adhesives line. We also picked up some industrial adhesives and we'll look to find uses for those applications in our Engineered Adhesives business, which is our core business for all adhesives."