3M Sells Gas Detection Division To Teledyne For $230M
MAPLEWOOD, Minn. (AP) — 3M Co. is selling its gas- and flame-detection business to Teledyne Technologies for $230 million.
About 500 employees of 3M's Personal Safety Division are expected to join Teledyne. The division has annual sales of $120 million. It's known for its fixed and portable gas- and flame-detection products that sell under brand names of Oldham, GMI, Detcon, Simtronics and Scott Safety.
Division Vice President Bernard Cicut says 3M plans to focus on other businesses within its personal safety portfolio. The sale is the latest of several key changes for 3M on the heels of a disappointing first quarter.
3M has said it will cut 2,000 jobs and buy the wound-care products firm Acelity Inc. for $6.7 billion.
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