3M to Acquire Quest Technologies Inc.
May 09, 2008 - Acquisition Broadens Safety and Protection Equipment Offering -
ST. PAUL, Minn.--3M announced today that it has entered into a definitive agreement to acquire Quest Technologies Inc., a manufacturer of environmental monitoring equipment, including noise, heat stress and vibration monitors. Terms of the transaction were not disclosed.
Quest Technologies adds its leading sound monitoring equipment to 3M's broad spectrum of safety products for detection, protection and compliance. "Quest Technologies broadens our presence in the industrial hygiene and safety equipment markets by bringing its renowned sound monitoring technology to our strong offering of personal protective equipment," said Julie Bushman, vice president and general manager, 3M Occupational Health and Environmental Safety Division.
Occupational hearing loss is a serious problem. To help minimize the risk of hearing loss, noise dosimeters worn during work-shifts measure noise levels at all locations an employee visits. Quest's noise dosimeter integrates an employee's exposure to "sound over time" and calculates a number of values including "noise dose." The noise dosimeter's dosage value is then used to determine if the employee needs to enroll in a hearing conservation program.
Sound level meters from Quest Technologies are instruments designed to react to noise much like the human ear. The sound measurements taken are compared to known standards to identify whether the noise level could have a detrimental effect on people located near the noise source. Quest also brings its heat stress monitors, which help to determine the appropriate work/rest regimens for workers in situations where heat stress is a life safety and liability risk by measuring exposure to temperature, humidity and radiant heat.
3M is a global leading supplier of respiratory, hearing, eye protection, and other personal protective equipment products, providing customers with innovative technologies and solutions that help increase personal safety and productivity in markets such as first responder, industrial manufacturing, automotive, shipbuilding, military, home improvement contractors and consumer.
Quest employs approximately 95 people at its headquarters in Oconomowoc, Wis. The transaction is expected to close in the third quarter, subject to customary closing conditions.
About Quest Technologies Inc.
Quest Technologies Inc. is an employee-owned company based in Oconomowoc, Wis. that provides reliable, high quality instruments and services for the global occupational health, safety and environmental markets. Products include noise dosimeters, sound level monitors, heat stress monitors, vibration monitors, indoor air quality monitors, gas detection equipment, and software to integrate all the monitoring and detection equipment manufactured and sold by Quest.
About 3M
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 75,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.
Contacts
3M
Donna Fleming Runyon, 651-736-7646
or
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807
