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© 3m Business | June 05, 2018

3M completes $870 million sale of its communications division

The company announces that it has completed the sale of substantially all of its Communication Markets Division to Corning Incorporated, for approximately USD 870 million.
The business includes 3M’s optical and copper passive connectivity solutions for the telecommunications industry, including 3M’s xDSL, FTTx, and structured cabling solutions, according to a press release from 3M.

However, the sale of the telecommunications system integration services portion of the business based in Hannover, Germany, remains pending and is expected to be completed by the end of 2018 for approximately USD 30 million.

Total annual global sales of the business are approximately USD 400 million.

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June 15 2018 12:12 am V9.6.1-2