3M To Acquire Aerion Technologies Inc.; Acquisition Of Gas Detection Systems Expands 3M Safety Product Line
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3M Corporate Headquarters, 3M Center
St. Paul, MN, 55144
Press release date: August 4, 2006
ST. PAUL, Minn.--(BUSINESS WIRE)--Aug. 4, 2006--3M announced today that it has entered into a definitive agreement to acquire Aerion Technologies Inc., a Denver, Colo.-based provider of environmental monitoring products including gas detection systems. Terms of the transaction were not disclosed.
This acquisition broadens 3M's spectrum of safety products - for detection and protection to compliance - and expands its presence in gas detection and the safety market. Aerion brings to 3M a line of portable and fixed gas detection equipment for commercial and industrial applications; heat stress monitors; and a thermal imaging camera line. Its brands include Aim portable gas detectors, Macurco carbon monoxide monitors, and FireFLIR thermal imaging cameras.
Complementary acquisitions such as this support both 3M's core business and growth strategy to expand into adjacent markets. "Combined with 3M's well-developed and established industrial and personal protective equipment, our global distribution channels, and our strong reputation in respiratory protection, Aerion will support growth by adding gas detection for environmental monitoring," said Mike Kelly, division vice president, 3M Occupational Health and Environmental Safety Division.
"Aerion complements 3M's strong technical capability for future product development, while 3M's global infrastructure increases the possibilities for sales of Aerion's products beyond our current reach," said Mike Strandell, CEO, Aerion Technologies Inc.
3M is a global leader in supplying workplace protection with a full line of maintenance-free and reusable filtering facepiece and elastomeric facepiece respirators; supplied and powered air purifying respiratory systems; hearing protection products; air monitoring systems; and sorbent materials.
Aerion employs approximately 53 people between its operations in Denver and Vancouver, B.C. The acquisition is expected to close this month subject to customary closing conditions.
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Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation.
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.
Contacts 3M, St. Paul Media Contact: Donna Fleming, 651-736-7646 or Investor Contacts: Matt Ginter, 651-733-8206 or Bruce Jermeland, 651-733-1807