3M to Acquire Safety Business of POMP Medical and Occupational Health Products LLC; Acquisition Enhances 3M's Safety Products and Technology Platform
ST. PAUL, Minn.-(BUSINESS WIRE)-June 8, 2006-3M announced today that it has entered into a definitive agreement to acquire the safety business of POMP Medical and Occupational Health Products LLC, a key provider of products such as earplugs, eyewear, and hand creams, based in Porto Alegre, Brazil, including related trademarks and patents. Terms of the transaction were not disclosed.
Well-known POMP brand reusable earplugs are made of durable, medical-grade silicone and are widely recognized in Brazil as the most comfortable earplug available. The trend in the safety industry is toward more comfortable products so that workers are more willing to use proper safety equipment. In addition, emerging markets prefer reusable earplugs over disposable earplugs because of lower total cost.
Combined with 3M's line of hearing protection products, including disposable earplugs, the acquisition of POMP reusable earplugs allows 3M to offer a broader portfolio of hearing protection products. The acquisition also brings POMP brand eyewear and hand creams to 3M Brazil.
"Adding POMP's brand of reusable earplugs, eyewear and hand cream products to our portfolio enhances our ability to service our customers in Brazil and will give us access to advanced technologies and designs in a fast-growing segment in the hearing protection industry," said Mike Kelly, division vice president, Occupational Health and Environmental Safety Division.
3M is a recognized leader in personal protective equipment, 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 and consumer.
The transaction is expected to close at the end of the month subject to customary closing conditions.
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