3M recently announced it has entered into an agreement to sell to Innovative Chemical Products Group (ICP Group), a portfolio company of Audax Private Equity, the assets of 3M’s Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam), which is part of 3M’s Industrial Adhesives and Tapes Division.
“After strategic portfolio review, we decided to exit this business and focus on our core adhesives, sealants, and tapes businesses,” said Ty Silberhorn, vice president and general manager, 3M Industrial Adhesives and Tapes Division.
“The Pressurized Polyurethane Foam Adhesives business will be a new, strategic business unit within ICP Group, focused on industrial and construction applications,” said Doug Mattscheck, president and CEO, ICP Group.
Top 5 News that Sticks for January 24-30
1. 3M to Sell Foam Adhesive Business (#2 last week)
2. Toyochem Acquires Rights to Dow Chemical Adhesives (#3 last week)
3. U.S. is Now Preferred Location for New Factory Capacity to Serve Domestic Market
4. UV-Cured Resins Market Ripe for Modest Growth as More Applications Emerge