3M Co. plans to buy MTI PolyFab Inc., a manufacturer of thermal and acoustic insulation for the aerospace industry.
The MTI PolyFab unit designs and manufactures lightweight thermal and acoustic insulation systems using polyurethane, polyethylene and polypropylene foam. Aerospace customers use the foam to address airborne and structure-borne noise.
In a March 8 announcement, St. Paul-based 3M said the purchase will allow its Aearo Technologies LLC subsidiary to provide a larger range of products.
Indianapolis-based Aearo offers E-A-R-brand high-performance soundproofing for noise and vibration control.
The addition of MTI PolyFab will allow 3M to expand from its portfolio base in thermal acoustic and vibration damping insulation, said Denise Rutherford, general manager of 3M's aerospace and aircraft maintenance department.
Marc Simard, executive vice president of MTI PolyFab, added that the companies are a natural fit.
The deal is scheduled to close in the second quarter.
MTI PolyFab, which employs about 130, is currently a division of MTI Global Inc., a producer of specialty silicone elastomer products. The PolyFab unit has a head office and manufacturing site in Mississauga, Ontario, with another production unit in Bremen, Germany, and a contract manufacturing venture in Ensenada, Mexico. The company also maintains an engineering support center in Brazil.
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