- Acquisition Expands 3M’s Coated Abrasives Offering in Peru -
3M announced today that it has acquired ABRASIVOS S.A., a manufacturer of coated abrasives in Peru. Terms of the transaction were not disclosed.
ABRASIVOS brings its full range of coated abrasives - sold under the ASA brand - cloth and paper backings to 3M’s broad line of abrasives technologies and products. With more than 40 years of experience in all phases of coated abrasives production and converting, ABRASIVOS also brings its technical know-how and manufacturing processes.
“ABRASIVOS’ well-known brand complements 3M’s abrasives technologies and established brands,” said Chris Holmes, division vice president, 3M Abrasive Systems Division. “Investing in a local company from the industrial sector expands our product portfolio and will allow us to better support our customers in Peru,” added Miguel Rios, regional managing director, 3M Peru.
3M Abrasive Systems Division is 3M’s “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 include Cubitron, Scotch-Brite, and Trizact for cutting and grinding to finishing and polishing.
“3M’s technology, expertise and global reach combined with our already strong brand and reputation will continue to build our business,” said Luis Roca, general manager, ABRASIVOS.
Complementary acquisitions such as this support both 3M’s core business and growth strategy to expand into additional regions. ABRASIVOS employs approximately 140 people and is headquartered in Lima.
About ABRASIVOS S.A.
ABRASIVOS S.A. was founded in 1963 in Lima, Peru and develops advanced technology products with high quality standards prevalent in the American market. Since its founding, ABRASIVOS has been the leader in the manufacture of coated abrasives in Peru, supplying the Peruvian market with a large variety of abrasive tools and related specialties and services. ABRASIVOS exports specialty products to North American converters and private label products for South American markets. ABRASIVOS has 45 years experience in all phases of coated abrasives production and converting, and constantly participates in advanced research programs.
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.
Media Contacts:Donna Fleming Runyon, 3M, 651-736-7646orJuan C. Zimmermann, 3M Peru, 51 1 224 2728orInvestor Contacts:Matt Ginter, 3M, 651-733-8206orBruce Jermeland, 3M, 651-733-1807
