3M has announced the acquisition of ABRASIVOS S.A., a manufacturer of coated abrasives in Peru. Terms of the transaction were not disclosed.
ABRASIVOS brings its full range of coated abrasives (sold under the ASA brand), cloth and paper backings to 3M’s line of abrasives technologies and products. With more than 40 years of experience in all phases of coated abrasives production and converting, ABRASIVOS also brings its technical know-how and manufacturing processes.
“ABRASIVOS’ well-known brand complements 3M’s abrasives technologies and established brands,” said Chris Holmes, division vice president, 3M Abrasive Systems Division. “Investing in a local company from the industrial sector expands our product portfolio and will allow us to better support our customers in Peru,” added Miguel Rios, regional managing director, 3M Peru.
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 include Cubitron, Scotch-Brite, and Trizact for cutting and grinding to finishing and polishing.
“3M’s technology, expertise and global reach combined with our already strong brand and reputation will continue to build our business,” said Luis Roca, general manager, ABRASIVOS.
Complementary acquisitions such as this support both 3M’s core business and growth strategy to expand into additional regions. ABRASIVOS employs approximately 140 people and is headquartered in Lima.
For more information, visitwww.3M.com.
3M ACQUIRES ABRASIVOS S.A.
December 10, 2008