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3M to Acquire Advanced Chemistry & Technology Inc.

Dépèche transmise le 8 juin 2011 par Business Wire

3M to Acquire Advanced Chemistry & Technology Inc.

ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has entered into an agreement to acquire Advanced Chemistry & Technology Inc. (AC TECH), a manufacturer of quick cure, light-weight polysulfide sealants for aerospace applications. Terms of the transaction were not disclosed.

“The addition of AC TECH expands 3M’s product presence in the aerospace market for the manufacture and maintenance of commercial and military aircraft”

The launch of new aircraft platforms is expected to contribute to strong growth and demand for aerospace sealants over the next several years. Aircraft sealants are used to prevent corrosion, seal critical gaps, and protect from foreign object debris. AC TECH’s range of fast-curing polysulfide sealants is highly complementary to 3M's aerospace material offerings and custom engineered solutions.

“The addition of AC TECH expands 3M’s product presence in the aerospace market for the manufacture and maintenance of commercial and military aircraft,” said Denise Rutherford, general manager, 3M Aerospace and Aircraft Maintenance Department. “The combined portfolio expands our value-added solutions offering to our customers, supporting their efforts to produce lighter, safer aircraft components and structures in a faster, more cost-effective manner. AC TECH and 3M working together will better serve customers in the aerospace industry.”

3M is a leading supplier to the global aerospace industry, providing innovative products such as adhesives and sealants, surface protection, and thermal acoustic solutions to original equipment manufacturers, tier suppliers and maintenance, repair and overhaul providers for the commercial and military aviation industries.

AC TECH employs approximately 70 people, and is based in Garden Grove, Calif. and also has operations near St. Louis, Mo. and Atlanta, Ga. The transaction is expected to close in the third quarter, subject to customary closing conditions.

About AC TECH
Established in 1997, Advanced Chemistry & Technology, Inc. is a technology-driven manufacturer of aircraft sealants and environmentally friendly surface treatment products for the commercial, military and general aviation markets. AC TECH offers a full range of products, services and logistics solutions tailored for original equipment manufacturers, aircraft operators, as well as maintenance, repair and overhaul providers. For more information, visit www.actechaero.com.

About 3M
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $27 billion in sales, 3M employs about 80,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com/aerospace, or follow @3MNews on Twitter.