Acquisition Broadens 3M’s Industrial
Adhesives Portfolio
3M announced today it has acquired Polyfoam Products Inc., a structural
adhesives company specializing in foam adhesives for tile roofing and
other adhesive products for the building industry. Terms of the
transaction were not disclosed.
Polyfoam’s patented professional tile roofing
system provides an alternative to mechanical fastening and is setting a
new standard in keeping tile roofs safe and intact, especially during
hurricane force winds. The unique polyurethane adhesive locks tiles in
place and eliminates the need for nails or screws to fasten tiles to the
roof, which can leave thousands of tiny puncture holes. In addition,
Polyfoam provides proprietary delivery systems comprised of canisters
and easy-to-use spray guns for installers in the field.
“The addition of Polyfoam’s
polyurethane foam formulations and polyurethane dispensing equipment
will broaden 3M’s industrial adhesives
portfolio and enhance our presence in the industrial and building and
construction markets,” said Patrick Deconinck,
vice president and general manager, 3M Industrial Adhesives and Tapes
Division.
Based on more than 50 years experience in practical application of
adhesive technology, 3M offers industrial tapes and adhesives for
bonding, protecting, masking, enhancing, shielding, damping, splicing,
reinforcing, color coding, case sealing and more. Complementary
acquisitions such as this support both 3M’s
core industrial adhesives business and growth strategy to expand into
adjacent markets.
“3M’s expertise in
adhesives, technical resources, and extensive reach will help us to
continue to grow our business and expand in Florida as well as other
regions vulnerable to hurricanes,” said Dick
Huber, president, Polyfoam Products Inc.
Polyfoam employs approximately 35 people and is headquartered near
Houston in Tomball, Texas, with a sales and training office in Coral
Springs, Florida.
About Polyfoam Products Inc.
Polyfoam Products Inc. has been manufacturing polyurethane foam
formulations and polyurethane dispensing equipment since 1989. The
company’s main office and manufacturing
facility is in Tomball, Texas, with a sales and training office in Coral
Springs, Florida.
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.
3M
Media Contact:
Donna Fleming Runyon, 651-736-7646
or
Investor
Contacts:
Matt Ginter, 651-733-8206
or
Bruce
Jermeland, 651-733-1807