3M to acquire filtration supplier in Switzerland

3M has entered into a definitive agreement to acquire Ligacon AG, a Switzerland-based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech and general industrial markets. Terms of the transaction were not disclosed. As a distributor of CUNO products, Ligacon and 3M have enjoyed a working relationship for several years...

ST. PAUL, MN, July 23, 2008 -- 3M has entered into a definitive agreement to acquire Ligacon AG, a Switzerland-based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech and general industrial markets. Terms of the transaction were not disclosed.

As a distributor of CUNO products, Ligacon and 3M have enjoyed a working relationship for several years. "The combination of 3M's technology leadership and Ligacon's broad customer reach and customization capabilities will accelerate growth and enable us to deliver the right solutions to meet the needs of the filtration industry," said Tony Theunissen, vice president and general manager, CUNO Inc., a 3M company.

"The acquisition of Ligacon allows 3M to offer complete filtration system solutions and better serve our customers in Switzerland and beyond," said Reza Vaziri, managing director, 3M Switzerland.

3M CUNO Filtration manufactures and markets filtration solutions for separating, clarifying and purifying fluids and gases. 3M CUNO products serve the food and beverage, residential, leisure, industrial, healthcare and food service markets. Complementary acquisitions such as this support 3M CUNO Filtration's core business and expansion into key markets such as the pharmaceutical manufacturing industry.

"As part of 3M CUNO Filtration, Ligacon will gain access to 3M technologies and developments, which will allow improved offerings to the market and provide an excellent base for attractive growth and opening up new market segments," said Juerg Roell, CEO and co-owner, Ligacon.

Ligacon employs approximately 20 people at its headquarters in Tagelswangen, Switzerland. The transaction is expected to close in the third quarter, subject to customary closing conditions.

Also see:
-- 3M's global strength enables record second-quarter sales and earnings

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