3M decided to sell the assets of its temporary protective films business to Pregis LLC. The sale transaction is expected to complete during the year 2016. After the conclusion of the sale deal, about 90 employees working in the temporary protective films business of EM in Conover, N.C., and other field-based employees are expected to join Pregis.
3M’s temporary protective films business has an annual global sale of approximately $50 million. The adhesive-backed temporary protective films supplied by 3M are used in large numbers of industries such as automotive, appliance, metalworking, building and construction.
“After completing an in-depth strategic portfolio review, we decided to exit this business and focus on investing in our core adhesives, sealants, and tapes businesses,” said Ty Silberhorn, vice president and general manager, 3M Industrial Adhesives and Tapes Division.
Kevin Baudhuin, President and Chief Executive Officer of Pregis considers the growth within the protective films category as very strategic to Pregis. “Purchasing 3M’s temporary protective films business allows us to accelerate our growth and bring the flexibility and high service levels of the Surface Guard protective films to a well-established customer base”, said Kevin Baudhuin.
Pregis LLC, a leading provider of innovative protective packaging materials, equipment systems and surface protection offers solutions for a wide variety of consumer and industrial market segments including food, beverage, healthcare, medical devices, agricultural, e-commerce, retail, automotive, furniture, electronics, metals, construction and military/aerospace.