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3M to Sell Static Control Business to Desco Industries

Has annual global sales of approximately $45 million

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

3M announced that it has signed an agreement with Desco Industries, Inc. for Desco to purchase the assets of 3M’s global Static Control business. 3M’s Static Control business is a provider of products and solutions that help prevent, detect, and protect against Electrostatic Discharge (ESD) events. The transaction is expected to close during the first quarter of 2015 after the successful completion of Desco’s financing and is subject to customary closing conditions. Terms of the transaction were not disclosed.

“A key to 3M’s long-term success is active portfolio management. As the result of a thorough strategic review, we have made the decision to exit the Static Control business and sell to Desco, a company fully focused on the Static Control industry and its evolving customer needs,” said Herve Gindre, vice president and general manager, 3M Electronics Materials Solutions Division.

“With more than 30 years in the ESD control industry, Desco is excited by the opportunity to add 3M’s Static Control business to our company. As we look to expand our footprint in the growing ESD industry, Desco intends to continue developing and marketing high-quality ESD control solutions,” said John Brake, CEO, Desco Industries, Inc. “We plan to work with 3M to facilitate a smooth transition of the business for customers and employees.”

3M’s Static Control business has annual global sales of about $45 million. The business employs approximately 150 people worldwide, with manufacturing operations in Sanford, N.C. Substantially all of these employees are expected to transfer to Desco.

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