3M has announced it has entered into an agreement to acquire EMFI S.A. and SAPO S.A. ("EMFI/SAPO"), manufacturers of polyurethane-based structural adhesives and sealants headquartered in Haguenau, France. The agreement will be implemented subject to compliance with third party notice and approval requirements. Terms of the transaction were not disclosed.
EMFI/SAPO's high-performance adhesives and sealants complement 3M Industrial Adhesives and Tapes Division's core industrial adhesives product line and provide access to the fast-growing polyurethane-based structural adhesives and sealants market segment. Polyurethane structural adhesives and sealants are key to building and infrastructure construction, wood floors, structural assembly, automotive aftermarket, truck, marine, specialty vehicle and rail assembly applications.
"In addition to EMFI/SAPO's polyurethane structural adhesive and sealant platform, this acquisition brings technical know-how and a unique manufacturing process to 3M that will accelerate growth and allow us to deliver a broader offering to our customers globally," said Patrick Deconinck, vice president and general manager, 3M Industrial Adhesives and Tapes Division.
Bernard Cicut, managing director of 3M in France added, "We also see strong sales synergies with EMFI/SAPO that will help us to better serve customers in France and across Europe."
Based on more than 50 years experience in practical application of adhesive technology, 3M offers industrial tapes and adhesives for bonding, protecting, masking, enhancing, shielding, damping, splicing, reinforcing, color coding, case sealing and more. Complementary acquisitions such as this support both 3M's core industrial adhesives business and growth strategy to expand into adjacent markets.
"EMFI/SAPO and 3M are a natural fit," said Jean Luc Mendler, president, EMFI/SAPO. "3M's expertise in adhesives, technical resources, and global customer access will help us to continue to grow our business." Mendler will remain as president of EMFI/SAPO.
EMFI/SAPO employs approximately 350 people. The transaction is expected to close in the fourth quarter, subject to customary closing conditions, including regulatory approvals.
For more information, visitwww.3M.com.
3M TO ACQUIRE EMFI S.A. AND SAPO S.A. (7/22/08)
July 22, 2008