3M Aims to Sell Sections of Electronics Business
Working with Goldman Sachs Group Inc., 3M is planning to sell components of the Electronic Solutions Division—mainly made up of touchscreen parts—due to underperformance, according to Bloomberg. Neither company commented on the potential sales.
The Electronic Solutions Division consists of the brands Bumpon and Novec, which make touchscreen segments, such as battery materials, flex circuits, static control solutions and thermal management materials. Their mechanisms can be found in ATMs, exercise equipment, point-of-sale systems at grocery stores and restaurants, slot machines, vending machines and more.
Just this year, 3M announced it had teamed up with Ideum for the Multitouch Coffee Table that features a 32” or 46” touchscreen tabletop equipped with Windows 8. And in 2013, one of 3M’s scientists, Dr. Andy Ouderkirk, received R&D Magazine’s Innovator of the Year Award for his leadership and innovative skills that led to the creation of the 3M Multilayer Optical Film, which features light management properties and conserves energy. These films typically are found in electronic displays, smart cards and L.E.D. light bulbs.
In November 2012, 3M CEO Inge Thulin indicated the company was reviewing units of revenue that totaled $2.5 billion that could be fixed, closed or sold, according to Bloomberg. (The electronic units collected about $1 billion of 3M’s $31 billion in sales in 2013.) While Thulin did not say which businesses were included, Bloomberg sources confirmed the electronics division was part of that process, but which components’ departures are in the works is not known at this time.
For more information, visit www.3m.com.