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3M to Acquire MTI PolyFab Inc.

Published on 2010-03-10. Author : SpecialChem

ST. PAUL, Minn. -- 3M announced it has entered into a definitive agreement to acquire MTI PolyFab Inc., a manufacturer of thermal and acoustic insulation for the aerospace industry.

"MTI PolyFab and Aearo together are a natural fit"

MTI PolyFab designs and manufactures a light-weight thermal and acoustic insulation system for a wide variety of aerospace customers to address unwanted airborne and structure-borne noise in aircraft. The combination of MTI PolyFab products with those of 3M's wholly-owned subsidiary, Aearo Technologies LLC, will provide a comprehensive range of solutions to the aerospace industry. Aearo offers high-performance soundproofing for noise and vibration control to enhance cabin comfort through its E-A-R brand thermal acoustic systems.

"The addition of MTI PolyFab complements and builds on our thermal acoustic and vibration damping portfolio for aircraft manufacturers and will allow us to expand into adjacent aerospace segments," said Denise Rutherford, general manager, 3M Aerospace and Aircraft Maintenance Department.

"MTI PolyFab and Aearo together are a natural fit," said Marc Simard, executive vice president, MTI PolyFab. "The combination of the companies' technical expertise and manufacturing capabilities will help to better serve our customers around the world."

MTI PolyFab employs approximately 130 people and has operations in Canada, Brazil and Germany. The transaction is expected to close in the second quarter, subject to customary closing conditions.

About MTI PolyFab Inc.

MTI PolyFab Inc, is a division of MTI Global Inc., a publicly traded company on the Toronto stock exchange, TSX: MTI. MTI PolyFab's aerospace division designs and fabricates energy management systems from a variety of flexible, cellular materials for the aerospace industry. MTI Global Inc. also produces and distributes specialty silicone elastomer products. MTI PolyFab's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with international manufacturing operations located in Bremen, Germany, and a contract manufacturer venture in Ensenada, Mexico. The company also maintains an engineering support center in Brazil.

About Aearo Technologies LLC

Based in Indianapolis, Ind., Aearo Technologies LLC is a wholly-owned subsidiary of 3M. Through its E-A-R Thermal Acoustics Systems business unit, Aearo delivers concept-to-completion acoustic, vibration, shock and thermal solutions globally to a wide variety of original equipment manufacturers in the electronics, aircraft, transportation and industrial markets. Aearo's experienced engineers work closely with customer design teams to provide targeted engineered solutions that meet the customer's needs for quieter operation, improved thermal properties, enhanced precision and greater durability.

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 $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries.

Source: 3M


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