3M has divested its optical fiber and copper cable telecommunications business to Corning, Inc. for US$900 million.
Per the terms of the deal, more than 500 employees of 3M’s optical fiber division will transfer to Corning. The transaction is expected to close in 2018, subject to customary regulatory and closing conditions.
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With global sales of US$25 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.