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3M Sells Stake in Combi Packaging

3M has sold its 50% equity stake in Combi Packaging Systems LLC to SIAT Group, an H.I.G. Capital portfolio company and provider of case taping machinery, wrapping machinery, and strapping equipment.

Combi is a U.S.-based producer and distributor of end-of-line packaging machinery. The company also acts as the service and warehousing provider for the 3M-Matic™ Case Sealing equipment brand. Per the terms of the deal, 3M will continue to sell 3M-Matic products. Financial terms of the sale were not disclosed, and the transaction will not have a material impact on 3M’s financial results.

About 3M
With global sales of US$34.2 billion, 3M is a leading producer of thousands of products ranging from chemicals, filtration systems, and safety and protection equipment to office, graphics, and health care equipment. For more information, visit www.3m.com.