3M has made an offer to acquire E Wood Holdings PLC, a North Yorkshire, UK-based manufacturer of high performance protective coatings for oil, gas, water, rail and automotive industries. The transaction is expected to close in April, subject to customary closing conditions, regulatory approvals and the requisite E Wood shareholder acceptances.
According to 3M, E Wood’s expertise in liquids technologies for new pipes and rehabilitation coatings for existing pipes in oil, gas and water markets complements 3M’s core corrosion protection product offering of external powder coatings for new oil and gas pipelines. This acquisition provides 3M with enhanced access to key markets, including the rehabilitation of existing oil and gas pipelines, and the protection and rehabilitation of water pipelines and infrastructure.
E Wood sells high performance coatings for use in the oil, gas, water, rail and automotive industries under the Copon brand. Its Thortex and Thistlebond brands include a range of industrial maintenance products for the long-term protection of buildings, structures and machinery equipment operating in industrial and marine environments.
For more information, visitwww.mmm.comorwww.ewood.co.uk.
3M to Acquire E Wood Holdings - Posted 3/27/07
March 27, 2007