HomeMy WebLinkAbout2014 12-15 3M sells static control business to California firm WCCO Home ? Business
3M sells static control business to California
firm
Updated:December 15,2014-9:00 PM
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3M Co.sold its static control business,which generates about$45 million
in annual sales,to Desco Industries Inc.of Chino,Calif..the firms said
Monday.
Terms weren't disclosed.
The business employs about 150 people,and most are expected to
transfer to Desco.3M has one manufacturing plant.in Sanford,N.C.,for
static control products.
Such products are used chiefly in chipmaking and other sectors of
electronics manufacturing,where uncontrolled transfers of electricity can
short out components and finished goods during assembly.
Desco also provides static controls and other products for electronics
producers and operates seven factories in the U.S.and U.K.
3M said the deal is expected to close in the first quarter of 2015,subject to
the completion of Desco's financing.
Maplewood-based 3M said the decision to sell the business came after a
review of its portfolio of products and services.
Evan Ramstad•612-673-4241 •I`