Venture Tape Corp. to Acquire Compac Corp.'s Pressure Sensitive Adhesives Assets
January 21, 2009 02:00 PM Eastern Time
Acquisition Broadens Pressure Sensitive Adhesives Offering
ST. PAUL, Minn.--Venture Tape Corp., a subsidiary of 3M, announced today that it has signed a definitive agreement to acquire Compac Corp.'s pressure sensitive adhesive (PSA) tape assets from Lamtec Corp. Terms of the transaction were not disclosed.
Compac, a subsidiary of TriMas Corporation, which recently agreed to sell Compac to Lamtec, is a global provider of pressure sensitive adhesive tapes primarily for the heating, ventilation and air conditioning (HVAC), insulation and industrial markets. The acquisition is expected to be completed in the first quarter of 2009. Upon completion of this transaction, all Compac PSA tape products will be supplied from Venture Tape Corp.
Venture Tape manufactures a broad range of tapes used in construction, oil and gas, HVAC, electronics, aerospace, marine and appliance markets. It also provides specialty industrial tapes complementary to 3M's specialty tape product line used in splicing, automotive and automotive aftermarket applications.
About Compac Corp.
Established in 1968, Compac Corp. a TriMas company, is a global leader in providing custom solutions in coating, laminating and converting flexible substrates. Compac specializes in and is one of the world's leading manufacturers of flame retardant, reinforced insulation vapor retarders (facings) and insulation tape products. The company is headquartered in Hackettstown, New Jersey. For more information, visit compaccorp.com.
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 79,000 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
