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3M Acquires Standard Abrasives

- Acquisition Expands 3Ms Abrasive Product Offering for the Metalworking Industry -

Thursday, November 1, 2007 11:00 am CDT

Dateline:

ST. PAUL, Minn.

Public Company Information:

NYSE:
MMM
"With this acquisition we are joining two great abrasive companies and brands, both of us successful, and both of us with proud histories of innovation that are now coming together to drive towards a very bright future"

ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has acquired Standard Abrasives, a manufacturer of coated abrasive specialties and non-woven abrasive products for the metalworking industry. Terms of the transaction were not disclosed.

The addition of Standard Abrasives further enhances 3Ms ability to bring high value solutions to customers in the metalworking industry around the world. With this acquisition we are joining two great abrasive companies and brands, both of us successful, and both of us with proud histories of innovation that are now coming together to drive towards a very bright future, said Chris Holmes, vice president and general manager, 3M Abrasive Systems Division.

3M Abrasive Systems Division is 3Ms heritage business, upon which the company was founded in 1902. 3M's brands are recognized around the world, making the company a leading abrasives supplier to manufacturers of medical, electronics, aerospace, automotive and thousands of other products. 3M abrasive technologies and brands, including Cubitron, Scotch-Brite, and Trizact, mean customers can trust 3M to provide quality, innovative products and solutions for virtually every purpose from grinding to polishing.

Complementary acquisitions such as this support both 3Ms core business and growth strategy to expand into additional markets. Standard Abrasives employs approximately 375 people and is headquartered in Simi Valley, Calif.

About Standard Abrasives

Since 1959, Standard Abrasives has delivered creative solutions to the metalworking market by designing and manufacturing a wide variety of coated abrasive specialties and non-woven abrasives.

About 3M - A Global, Diversified Technology Company

Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the companys 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 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.

Contact:

3M
Media Contact:
Donna Fleming Runyon, 651-736-7646
or
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807