3M Acquires Paint Finishing Business
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3M Corporate Headquarters, 3M Center
St. Paul, MN, 55144
Press release date: September 23, 2008
ST. PAUL, Minn.--3M announced today that it recently acquired the business of Dedication to Detail, a Philadelphia-based manufacturer of paint finishing systems including buffing and polishing pads. Terms of the transaction were not disclosed.
The acquisition of Dedication to Detail enhances 3M's range of vehicle appearance products with the addition of patented quick release double-sided foam and wool pads sold under "The Edge" brand. Dedication to Detail's innovative products and manufacturing expertise will complement 3M's current range of products and create additional growth in the automotive aftermarket and related paint finishing markets.
3M's Automotive Aftermarket Division provides a comprehensive line of 3M products for auto body repair professionals and auto enthusiasts. Products include abrasives and accessories, performance cleaning products, waxes, masking tapes, panel bonding adhesives, general adhesives coatings and sealers, paint finishing polishes and compounds, and paint application systems.
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms - often in combination - to a wide array of customer needs. With $24 billion in sales, 3M employs 79,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.
Contacts 3M Media Contacts: Donna Fleming Runyon, 651-736-7646 or Investor Contacts: Matt Ginter, 651-733-8206 or Bruce Jermeland, 651-733-1807