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Business to be known as 3M Japan
July 17, 2014
By: DAVID SAVASTANO
Editor, Ink World Magazine
3M announced that it will acquire, through Sumitomo 3M, Sumitomo Electric Industries Ltd.’s 25% interest in Sumitomo 3M Ltd. for 90 billion Japanese yen (approximately $885 million at current exchange rates). Upon completion of the cash transaction, 3M will own 100% of Sumitomo 3M Ltd. The transaction is expected to close Sept. 1, 2014. “This investment allows us to gain full control of one of 3M’s most successful subsidiaries,” said Inge G. Thulin, 3M chairman, president and CEO. “It is a s...
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