3M to Divest Flame Detection BusinessJune 5, 2019
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3M has received a binding offer from Teledyne Technologies, Inc. to purchase the company’s gas and flame detection business segment for US$230 million.
The deal includes products sold under the Oldham, GMI, Detcon, Simtronics, and Scott Safety brand names. Per the terms of the transaction, 3M will retain ownership of the Scott Safety brand name. More than 500 3M employees who serve the gas and flame detection division are expected to join Teledyne Technologies once the deal is finalized, which is anticipated to be in the second half of 2019, pending customary closing requirements.
With global sales of US$33 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.